Milei a Bitcoin Supporter Leads in Argentina’s Presidential Primary Election

Milei a Bitcoin Supporter Leads in Argentina’s Presidential Primary Election

By Miles

14 Aug 2023 (about 1 year ago)

2 min read

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Javier Milei, a Bitcoin supporter and critic of the central bank, takes the lead in Argentina's primary presidential race, hinting at possible financial changes ahead.

Javier Milei, who supports getting rid of the central bank and likes Bitcoin, is leading in Argentina's primary election for president. He is part of the "La Libertad Avanza" (Freedom Advances) party. With most votes counted, he got 30.73%. The other two main candidates got 28.14% and 26.84%.

Milei has said the central bank is not good and it causes inflation, which means money loses its value. He likes Bitcoin and believes money should be in the hands of people, not the government. But he hasn't said Bitcoin should be the official money of Argentina. Instead, he wants to use US dollars more because Argentina's money is losing value very fast.

It's unlikely any candidate will get more than 45% votes now. So, there will be another election in October. If no one gets 45% in that, a last vote will happen in November.

if Milei wins the presidency, it could mean big changes for Argentina's financial system. His positive views on Bitcoin may encourage more people in the country to trust and use cryptocurrencies. Even though he hasn't pushed for Bitcoin as official money, his leadership might still boost its popularity and importance in the region.

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