Bitcoin for President? The candidate Javier Milei is not a candidate like the others in Argentina. Although systematically criticized by the press like Donald Trump in the USA, the Argentinian seems (like the latter) to defy all the polls. He has, in fact, just maintained himself in the leading duo for the presidency of the South American country. His statements pro-Bitcoin and anti-central banks seem to appeal more than some expected.
Javier Milei obtains 30% and remains in the last round of the presidential elections
The economic situation in Argentina is more than perilous with inflation who reached the +124.4% over one year (highest level since 1991). The presidential elections therefore have an important stake, since the country could find itself bankrupt again.
It is in this particular context that the current Argentine Minister of Economy, Sergio Massawill find himself face to face with Javier Milei in a final presidential round which promises to be agitated during the month of November.
Indeed, as reported in particular by Bitcoin Magazine, and at the general surprise pollsters, the candidate who had expressed interest in Bitcoin obtained approximately 30 % voices. The Minister of the Economy, for his part, collected 36%missing the opportunity to get rid of his opponent.
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The final outcome for Bitcoin in Argentina on November 19
If the Milei/Massa fight interests the cryptosphere, it is because the two candidates have a very opposite view what currency should be used in Argentina. The Minister of the Economy thus announced at the beginning of October a central bank digital currency (MNBC) if he was elected.
For his part, Javier Milei, had simply treated the central banks “scams” towards the People, while complimenting the pet peeve of the bankers, Bitcoin. Suffice it to say that there are two rooms and two atmospheres very different.
The fate of Argentina, for the next 4 years, will be decided on Sunday November 19 2023, the day of the last round of the presidential election, which will therefore pit these two candidates against each other and who are equally divisive. Massa carries the responsibility for galloping inflation in the country like a burden, where Milei divides both in form and substance. The candidate known for his questionable ideas is positioning himself for the ban on abortion, the liberalization of the carrying of weapons or even the abolition of social assistance, in a country which already suffers from poverty.
The result of this election could even influence the economy of the South American country well beyond the 4-year presidential term, if the specter of hyperinflation is not rejected by the lucky one. THE fate of Bitcoin in Argentina could also be sealed for a while, given the anti-crypto hostility of the local central bank against it.
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