Pro-Bitcoin Milei Dominates Argentine Primary
Pro-Bitcoin candidate Javier Milei, recognized for his anti-central bank libertarian views, has won a significant majority in the Argentine primary election. His stance on cryptocurrency and economic freedom has resonated strongly with voters, leading to a decisive victory.
Javier Milei, a political figure from Argentina, known for his favorable views on Bitcoin and advocacy for the elimination of the country’s central bank, has assumed the front position in the nation’s presidential open primary elections.
His coalition, La Libertad Avanza, garnered more than 30% of the votes, surpassing the center-right coalition, Juntos Por El Cambio, which secured the second position by a margin of just under 2%.
Pre-election surveys had indicated that Milei was expected to secure no more than the third spot in today’s voting.
The primary elections establish the ultimate contenders for the presidential ballot scheduled in October, providing an initial assessment for the upcoming general election.
Milei, positioned by critics within the extreme right of the political spectrum, has garnered praise from protest voters, including those who advocate for cryptocurrency.
Appearing on numerous talk shows, he advocated for the advantages of Bitcoin and other cryptocurrencies. As a self-proclaimed libertarian economist, he views Bitcoin as a “return of money to its original creator: the private sector.”
Highlighting the finite nature of Bitcoin’s supply, he sees cryptocurrency as a more secure option compared to engaging in transactions involving gold or silver.
However, challenges exist in Milei’s association with cryptocurrency, including a lawsuit for supposedly endorsing a Ponzi scheme in Argentina known as Coinx.
Facing criticism for his relentless criticism of the country’s central bank, Milei had provocatively suggested dismantling it, referring to the bank as a deceitful entity exploiting “innocent individuals” through inflationary taxation.
Despite the Central Bank imposing restrictions on digital wallets to counter cryptocurrency, Argentina’s cryptocurrency adoption ranks 13th globally, according to Chainalysis.
It will be interesting to see how Milei’s approach to Bitcoin, cryptocurrencies, and central banks unfolds if he attains power in Argentina.
