Javier Milei Wins Argentina’s Presidential Run-Off Election

Javier Milei, a supporter of Bitcoin (BTC), was victorious in Argentina’s presidential run-off election on Nov. 19, beating Sergio Massa. With nearly 99% of the votes counted, Milei won over 55% of the votes with a nearly 3 million vote lead, according to Bloomberg data.

Massa, Argentina’s minister of economy, telephoned Milei to congratulate him on the victory after more than 90% of the votes were counted, prior to the first official results being announced. Milei will take office on December 10.

The country’s long-standing crypto inflation crisis has been a hot topic in Argentina, with the Argentine peso recording a 140% increase in annual crypto inflation in the last 12 months.

Milei’s Criticism Toward Central Bank

Milei has been vocal in his criticism of the country’s central bank, referring to it as a “scam” and a “mechanism by which politicians cheat the good people with inflationary tax”.

He has also described Bitcoin as a movement that will lead to “the return of money to its original creator, the private sector”.

However, Milei has not indicated any intention to make Bitcoin legal tender in the country.

Massa’s Views on Money, Banking and Crypto Industry

Massa’s views on the money, banking and crypto industry are in sharp contrast to Milei’s. Massa has not expressed any opinion on web 3.0, which is also known as the data crypto industry, or on crypto inflation, crypto money laundering, the latest crypto currency crisis or any other aspects of the crypto good industry.

Crypto and the Argentine Election

In October, presidential hopeful Alberto Fernandez pledged to launch a central bank digital currency (CBDC) if elected to “solve” Argentina’s long-lasting crypto inflation crisis.

Massa won the first round of Argentina’s presidential election in October, but he was unable to secure the presidency outright, necessitating a final run-off vote.

In August, Milei won Argentina’s primary election against Massa and other candidates, in a contest that was closely watched by the crypto industry.

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