Javier Milei, a pro-Bitcoin libertarian, wins Argentina's presidency, promising economic revival amid soaring inflation and global collaboration
Argentina elected Javier Milei, a far-right libertarian, as its new President in a huge political shift. Milei is a well-known supporter of Bitcoin and a critic of central banks, thus the crypto community celebrated after his victory.
Milei defeated Economy Minister Sergio Massa with 56% of the vote. Meanwhile, Argentina is struggling with high inflation and economic instability at the time of the election.
Milei promised Argentina's comeback on the global stage in his victory address and vowed to collaborate with free nations around the globe. Former US President Donald Trump and MicroStrategy CEO Michael Saylor both congratulated Milei, acknowledging his pro-Bitcoin stance.
With Argentina's inflation rate reaching 142.7%, Bitcoin values versus the Argentine peso reached all-time highs this year. 1 Bitcoin is currently worth more than 13 million ARS.
Milei's View on Central Banks
Milei, who is known for his anarcho-capitalist beliefs, has called Argentina's central bank fraudulent and advocated for Bitcoin as a means of restoring monetary power to the private sector. South American leaders, including those from Brazil and Chile, also congratulated Milei as Argentina's new President