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- With over 99% of the ballots recorded, Milei had over 55% of the vote.
- The Argentine peso has seen annual inflation of 140% over the last year.
Javier Milei, who supports bitcoin, defeated Sergio Massa to win Argentina’s presidential election on November 19. According to Bloomberg statistics, with over 99% of the ballots recorded, Milei had over 55% of the vote, giving him a roughly 3-million vote advantage.
Massa, the nation’s minister of economics, contacted Milei to congratulate him on the win after more than 90% of the ballots were tallied – before the publication of the first official results. As of the 10th of December, Milei will be in charge.
Return of Money to Original Creator
The Argentine peso has seen annual inflation of 140% over the last year, making the nation’s long-running inflation problem a hot subject across the nation. Milei has been outspoken in his criticism of the central bank of the nation, calling it a swindle and a method by which politicians deceive the decent citizens into paying an inflationary tax.
Bitcoin, in his words, represents “the return of money to its original creator, the private sector.” He has not, however, shown any desire to recognize Bitcoin as legal cash.
It would seem that Massa and Milei couldn’t be more different in their outlooks on the financial, banking, and cryptocurrency sectors. If elected in October, he promised to “solve” Argentina’s prolonged inflation issue by introducing a CBDC.
Massa easily won the first round of voting in October’s Argentine presidential election. Unfortunately, this wasn’t enough to secure the president outright, necessitating a second and decisive round of voting. Before that, in August, Milei defeated Massa and other contenders in Argentina’s primary election.
According to CoinMarketCap, the price of Bitcoin is trading at $37,158, up 1.49% in the last 24 hours. The price witnessed the spike post the announcement of the election results.
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