Javier Milei secures more than 55% of votes in runoff presidential election
Bitcoin-friendly candidate Javier Milei has won Argentina’s presidential runoff, securing more than 55% of the vote with nearly 99% of votes counted, according to a Bloomberg report. Millay’s opponent Sergio Massa has conceded the election, and Millais is scheduled to take office on December 10.
Milei’s Central Bank Criticism and Bitcoin Embrace
Mailay has called Argentina’s central bank a “fraud” and a tool for politicians to impose inflationary taxes on citizens. He sees Bitcoin as a move to return control of money to the private sector.
Economic hardship and inflation crisis
The election took place against the backdrop of Argentina’s ongoing inflation crisis, with the Argentine peso rising by more than 140% in annual inflation over the past 12 months. Milei’s victory reflects growing dissatisfaction with the South American country’s economic situation.
Different views on cryptocurrency
Milei and Massa have different views on the role of money, banks, and cryptocurrencies. While Milei embraced Bitcoin as a solution, Massa promised to launch a central bank digital currency (CBDC) to solve Argentina’s inflation problem.