Javier Milei, known for his pro-Bitcoin stance, emerged victorious in Argentina’s presidential run-off election on November 19, securing over 55% of the votes with nearly 99% of ballots counted.

Sergio Massa and his opponent, along with the country’s minister of economy, graciously conceded. This came after Milei established a substantial lead of almost 3 million votes, according to Bloomberg data. The prevailing issue in Argentina’s enduring inflation crisis has been a prominent concern.

The Argentine peso, in particular, has experienced an annual inflation surge exceeding 140% in the last 12 months.

Javier Milei Criticizes Central Bank, Favors Bitcoin, While Massa Eyes CBDC for Argentina

Argentine Central Bank Accelerates Digital Peso Implementation

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 populace. Furthermore, he sees Bitcoin as a pivotal movement facilitating the return of control over money to the private sector. This sharply contrasts with his predecessor’s views.

However, despite his positive stance on Bitcoin, Milei has not indicated any inclination to make it legal tender in Argentina.

Sergio Massa, with opposing views on money, banking, and cryptocurrency, had pledged in October to introduce a central bank digital currency (CBDC) as a solution to Argentina’s persistent inflation issues if elected.

Milei’s August Victory and December Inauguration Set

Massa had initially won the first round of the presidential election in October but fell short of securing the presidency outright, leading to the final run-off vote.

It is worth noting that prior to the run-off, Milei had already triumphed over Massa and other candidates in Argentina’s primary election held in August. Javier Milei is set to assume office on December 10.

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