It has been verified that Javier Milei, a candidate with an affinity for Bitcoin, emerged victorious within the Argentine presidential elections. A margin of two,786,457 votes separated him from his closest competitor, Sergio Massa. On December 10, 2023, it’s anticipated that he’ll assume the presidency.

As per the ultimate outcomes pertaining to the second spherical of the presidential election, Javier Milei of Freedom Advances (LLA) had a depend of 13,216,311. Within the case of Sergio Massa of the Unity for the Homeland (UP), the depend stood at 10,429,854. The clean and invalid vote depend was 791,411.

Milei has not formally endorsed the actual fact of Bitcoin being utilized within the type of authorized tender or contemplating BTC to be a reserve asset. Nevertheless, it’s well-known that he has the intention of scrapping the Argentine peso and bringing as a substitute the American greenback. Just lately, the Argentine peso witnessed an inflation improve to the tune of 143% and is rising. This can be a scenario that requires fast different options.

At first of 2023, a major gathering of Argentines united in help of Bitcoin. They shaped an meeting resembling a monumental Bitcoin image with the intention to categorical their solidarity with the hassle to curb the escalating inflation that seems to be detrimental to the nation.

Milei has been most outspoken concerning his unfavourable opinion of the central banking system. He continued by stating that the central financial institution serves as a mechanism for legislators to deceive the general public by way of inflationary taxation and is, in essence, a fraud. In his view, Bitcoin stands for the shifting of cash to the actual creator, which is the non-public area.

He has additionally beforehand been on TV, the place he was proven thrashing a central financial institution pinata viciously with a stick.

For the time being, there’s uncertainty surrounding Bitcoin’s future in Argentina. Nevertheless, given the upcoming inauguration of Milei as president, it’s speculated that the nation might observe El Salvador’s lead regarding the official recognition of Bitcoin as authorized tender and its potential storage as a reserve asset.