Javier Gerardo Milei, a pro-Bitcoin Argentine politician, economist, and author, has secured the presidency in Argentina.
As per Bloomberg’s data, Milei clinched victory in the presidential race with a 56% majority, surpassing his rival, economy minister Sergio Massa.
Scheduled to assume office on December 10, Milei faces serious challenges in a country where over 40% of the population grapples with poverty and inflation hovers around 150%.
Milei, in discussing inflation in a video interview, highlighted the concept of the inflation tax and its implications. Notably, he pointed out that central banks, which are often accused of deceptive practices, benefit from the inflation tax. He emphasized how inflation essentially acts as a hidden tax, eroding the value of money over time.
Milei connected this notion to his positive stance on the crypto market, especially Bitcoin, portraying it as a means to counter the perceived exploitation by central banks and to restore monetary control to the private sector.
“Bitcoin is the natural reaction against the central bank scammers and to make money private again,” he stated.
Despite his pro-Bitcoin views, Milei has not yet publicly articulated a specific crypto strategy for the country.
Post-election, Bitcoin is witnessing a positive trend and a value surge. According to CoinMarketCap, Bitcoin’s price recorded a +2% increase, peaking at over $37,700 in the last 24 hours. Yesterday, the cryptocurrency fluctuated between $36,000 and $36,800.