Argentina has a pro-Bitcoin president who aims to fix the economy.
Argentina will wake up to a new president this week after far-right pro-independence Javier Mille won in elections over the weekend. As a result, Miley has been praised by the crypto community for being pro-Bitcoin and anti-central banks.
Moreover, the election comes at a difficult time for Argentina, which is struggling with high inflation and an economy in crisis.
Pro-Bitcoin president in Argentina
Provisional results show that Milley has nearly 56% of the vote, compared to 44% for his rival, Economy Minister Sergio Massa. Nearly 90% of the votes have been counted, and Massa has already conceded, reports say.
In her victory speech to fans in Buenos Aires on November 19, Miley,
“Today begins the reconstruction of Argentina. Today begins the end of Argentina's decline. The model of decadence is over. There is no way back.”
He continued:
“Argentina will return to its place in the world that it should never have lost. We are going to work together with all the countries of the free world to build a better world.”
Former US President Donald Trump said: “We will make Argentina great again!” He congratulated Miley on her victory.
Read more: 7 ways to cope with rising inflation in retirement
Michael Saylor, CEO of MicroStrategy, expressed his congratulations.
“Bitcoin is hope for Argentina. Congratulations J. Milly.”
Bitcoiner Max Keizer called for a meeting between Miley and El Salvador's President Naib Buquel on Bitcoin.
It is also said that highly inflated Argentine pesos are being thrown in the air as confetti to celebrate the victory.
According to Trading Economics, inflation in Argentina is currently 142.7 percent high. Moreover, earlier this year, the value of Bitcoin against the local currency rose to record highs in Argentina.
BTC is currently at an all-time high against the Argentine peso. Investors currently need more than 13 million ARS to buy Bitcoin, according to CoinGecko.
“The central bank is a fraud.”
A self-proclaimed anarcho-capitalist, Milley called the country's central bank a fraud.
He has previously argued that
“Central banking is a scam, a way for politicians to cheat good people with inflation.”
He also previously commented that Bitcoin “represents the return of money to its original creator, the private sector.”
South American leaders in Brazil and Chile have contributed congratulatory messages to Argentina's new president.
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