Amid Argentina’s economic crisis, citizens exercised their democratic rights as they headed to the polls for the second round of presidential elections. The first round, held last month, saw libertarian economist Javier Milei secure 30% of the votes, while leftist economy minister Sergio Massa garnered 36%.
Election Results Unveiled
As the clock struck 18:00 local time, concluding the second round, results emerged approximately two hours later. Javier Milei emerged victorious, officially becoming Argentina’s new president. Despite official results yet to be disclosed, Sergio Massa graciously accepted defeat and congratulated Milei in a speech.
Milei’s Unconventional Stance: Embracing Bitcoin
Bitcoin Against Central Bank Fraud
Javier Milei has gained attention not only for his political victory but also for his outspoken support for Bitcoin. Throughout his election campaign and prior, Milei characterized Bitcoin as a movement against central bank fraud. He emphasized that Bitcoin serves as a means of protection against the havoc wrought by inflation, highlighting its independence from any government or institution, thereby establishing itself as a globally recognized asset.
Bitcoin as a Return to Private Sector Origin
In a televised interview, Milei expressed, “Bitcoin represents a return to the private sector, the true creator of money.” The new Argentine leader emphasized that money is an invention of the private sector, reinforcing his unique perspective on economic matters.
Milei’s Bitcoin Advocacy Across Platforms
Social Media Advocacy
Javier Milei’s support for Bitcoin extends to his social media presence, particularly on his X account. In a 2020 post, he shared a conference link with the caption: “Watch this free conference on Bitcoin and crypto. Don’t let politicians steal your money!” This sheds light on Milei’s active engagement in educating the public about Bitcoin and economic theories.
Milei goes beyond rhetoric, actively contributing to the understanding of Bitcoin and economic theories. Reports suggest he conducts educational sessions on Bitcoin and economic theories, underlining his commitment to fostering awareness and knowledge.
Bitcoin Surges Post-Election
Market Response to Milei’s Victory
The impact of Milei’s election on Bitcoin’s value was swift and noticeable. Following the announcement of the election results in Argentina, Bitcoin, initially trading below $37,000, surged within minutes to reach $37,500.
Javier Milei’s ascendancy to the presidency not only marks a political shift in Argentina but also signals a potential evolution in the country’s economic policies. His advocacy for Bitcoin reflects a broader movement towards decentralized financial systems. As Milei assumes office, the world watches to see how his unique economic perspectives, particularly regarding Bitcoin, will shape Argentina’s economic landscape in the coming years.