Economist and Anarcho-Capitalist Javier Milei, known as a Bitcoin supporter, has been elected as the new President of Argentina. Milei’s election victory marks a significant development in Argentine politics and the world of cryptocurrency.
Milei ran for the presidency under the banner of the Freedom Development Party, competing against the incumbent Minister of Economy, Sergio Massa. Seen as a representative of right-wing populism, Milei secured 55.82% of the votes to win the presidency.
A Significant Step for Cryptocurrencies
Milei’s economic program includes adopting the dollar instead of the peso and supporting cryptocurrencies. This stance has been positively received in the cryptocurrency markets, including Bitcoin (BTC). Indeed, following rumors of Milei’s strong performance in the elections, the value of BTC began to rise, eventually surpassing the 37,000 mark after his election.
However, Milei has not yet made a clear statement regarding the official adoption of BTC as a legal payment method or reserve currency in Argentina. Yet, given his previous assertions that BTC represents the transformation of money back to the private sector, Milei’s position on cryptocurrencies is viewed optimistically.