Bitcoin-friendly Javier Milei wins Argentina presidential election

Argentinas Bitcoin (BTC)- friendly Javier Milei won the nations governmental run-off election on Nov. 19, vanquishing his challenger Sergio Massa.With nearly 99% of the vote counted, Milei won over 55% of the votes with an almost 3 million vote lead according to Bloomberg data.Massa, the countrys minister of economy, called Milei to congratulate him on the success after more than 90% of the votes were counted– before the announcement of the first main results. Milei will take workplace on December 10. With almost 100% of the vote counted, Milei had an over 10 percentage point lead on Massa. Source: BloombergArgentinas lasting inflation crisis has been a heated subject in the South American nation, with the Argentine peso recording over a 140% boost in yearly inflation in the last 12 months. Milei has actually been vocal about his criticisms towards the nations reserve bank, referring to it as a rip-off and a “mechanism by which politicians cheat the excellent people with inflationary tax.” Hes referred to Bitcoin as a movement toward “the return of cash to its initial developer, the economic sector.” Related: Bitcoin cost hits all-time highs throughout Argentina, Nigeria and Turkey However, he has actually not signaled any intent to make Bitcoin legal tender in the country.VIVA LA LIBERTAD CARAJO pic.twitter.com/WzzzZaTcsz— Javier Milei (@JMilei) November 19, 2023

Thank you for reading this post, don't forget to subscribe!

Massas views on the cryptocurrency, banking and cash market appear to be polar opposite to Milei. In October, he promised to launch a reserve bank digital currency (CBDC) if elected to “fix” Argentinas long-lasting inflation crisis.Massa won the preliminary of Argentinas governmental election in October. It wasnt enough to win the presidency outright, setting off the last run-off vote.Prior to that, Milei won Argentinas primary election against Messi and other candidates in August.Magazine: Unstablecoins: Depegging, bank runs and other threats loom