Javier Milei Secures Over 55% of Votes in Run-off Presidential Election
Bitcoin-friendly candidate Javier Milei has emerged victorious in Argentina’s presidential run-off election, securing over 55% of the votes with nearly 99% counted, as per Bloomberg report. Milei’s opponent, Sergio Massa, conceded the election, and Milei is set to assume office on December 10.
Milei’s Criticisms of Central Bank and Embrace of Bitcoin
Milei has been a vocal critic of Argentina’s central bank, denouncing it as a “scam” and a tool for politicians to impose inflationary taxes on citizens. He views Bitcoin as a movement towards returning control of money to the private sector.
Economic Challenges and Inflation Crisis
The election took place against the backdrop of Argentina’s enduring inflation crisis, with the Argentine peso experiencing over a 140% increase in annual inflation over the last 12 months. Milei’s victory reflects growing discontent with the economic situation in the South American country.
Divergent Views on Cryptocurrency
Milei and Massa hold divergent views on the role of money, banking, and cryptocurrency. While Milei embraces Bitcoin as a solution, Massa had pledged to launch a central bank digital currency (CBDC) to address Argentina’s inflation challenges.