Javier Milei Secures Decisive Victory in Argentina’s Presidential Run-off, Embracing Bitcoin-Friendly Approach
In a resounding win, Javier Milei, known for his Bitcoin-friendly stance, clinched over 55% of the votes in Argentina’s run-off presidential election on November 19, triumphing over opponent Sergio Massa. Bloomberg data reveals that with almost 99% of the votes tallied, Milei secured a commanding lead of nearly 3 million votes.
Argentina’s persistent inflation crisis, marked by a staggering 140% increase in annual inflation for the Argentine peso over the past 12 months, has been a central issue. Milei, a vocal critic of the country’s central bank, has denounced it as a “scam” and a tool for politicians to impose an “inflationary tax” on the people.
While championing Bitcoin as a movement towards returning money to the private sector, Milei has not indicated any plans to make Bitcoin legal tender in the country. He is set to assume office on December 10.
Sergio Massa, the country’s minister of economy, conceded defeat and congratulated Milei after over 90% of the votes were counted, even before the official results were announced. The stark contrast in their views on finance and cryptocurrency is evident, with Massa advocating for a central bank digital currency (CBDC) to address Argentina’s prolonged inflation crisis.
Massa, who won the first round of the presidential election in October, fell short of securing the presidency outright, leading to the final run-off vote. Milei had previously emerged victorious in Argentina’s primary election against Massa and other contenders in August.