Key Takeaways
- Economist Javier Milei elected as the new president of Argentina after defeating Sergio Massa.
- Milei has shown support for bitcoin and called for the abolishment of the Central Bank of Argentina.
- Dollarization of Argentina was a key focus of Milei’s presidential campaign.
- Bitcoin’s relevance in global political campaigns is on the rise.
Javier Milei’s Victory and Stance on Bitcoin
On Sunday, the Libertarian Party’s Javier Milei secured the presidency in Argentina by winning the runoff election against Sergio Massa. Milei’s victory was accompanied by a surge in the price of bitcoin, reaching approximately $37,500 as his opponent conceded defeat.
Milei has expressed favorable views on bitcoin, considering it as a representation of money returning to the private sector. However, he has not yet detailed specific policies regarding the cryptocurrency.
Bitcoin’s Political Impact
Milei’s win underscores the increasing prominence of bitcoin in global politics. In the United States, figures like Robert F. Kennedy Jr. and mayors of major cities are engaging with the idea of cryptocurrencies.
Conversely, there are critics of crypto like Senator Elizabeth Warren, who advocates for anti-crypto measures in Washington.
While Venezuela’s attempt with the Petro token failed to address its severe inflation issues, Milei’s victory signals a potential shift towards embracing alternative financial systems.
