In a surprising turnaround in Argentina’s political scene, Javier Milei, an ardent bitcoin (BTC) proponent and presidential candidate, has created a sensation by taking first place in the presidential primary polls, garnering a percentage of 30.73% of the vote. Could this signal the beginnings of bitcoin legalization in the country?
Javier Milei, a bitcoin (BTC) advocate challenging Argentina’s political scene
During Argentina’s presidential primaries, held on Sunday August 13, a pro-bitcoin actor.., Javier Milei surprised everyone by taking the lead in the polls. Known for his outspoken language and eccentric style, Milei doesn’t hesitate to express himself passionately on the subject of cryptocurrencies.
Through various debate and public interventions, Milei has outlined bitcoin’s strengths, highlighting its limited supply and presenting it as a more secure alternative to traditional precious metals. However, his positions are not without controversy.
Milei was involved in controversies, in particular in connection with an alleged Ponzi scheme named “Coinx in Argentina”. This situation brought him before the courts, although he vigorously denied any involvement, likening the affair to banking practices.
His unequivocal stance on the Argentine central bank also provoked debate. Indeed, Milei was constantly critical of the central bank’s inflationary policies, a criticism which has particular resonance in view of the galloping inflation rate, which reached 135% in Argentina this year.
Javier Milei Elected president in Argentina, towards the legalization of bitcoin in the country?
Javier Milei has asserted himself at the top of the polls with the support of 30.73% of voters surpassing his opponents. The party Juntos por el Cambio garnered 28.14%, while the party Unidos por la Patria obtained 26.84%.
As no candidate obtained more than 45% of the vote in this first phase, a new election will be held in October. In the event of another result below this threshold, a final phase will be held in November.
Building on the committed speeches of Milei, it is quite conceivable that, once in charge, he could steer the country in a direction similar to the one chosen by El Salvador.
However, it is important to note that his main objective is not to make BTC a national currency, but rather to target hyperinflation by promoting dollarization.
The case of Milei, a presidential candidate who supports bitcoin, is not new at all. Currently, the largest of cryptos is becoming an emerging force at the heart of elections, not only in Argentina, but also in the United States. This may suggest a move towards “bitcoinization” on a global scale.
Coming from a journalism university background, I came across Bitcoin and cryptocurrencies not long ago.
The potential of the Blockchain seduced me and I made it my research topic.
