Bitcoin-friendly Javier Milei won the presidential election in Argentina

Argentina's Bitcoin (BTC)-friendly Javier Millay has won the country's November 19 presidential election, defeating rival Sergio Massa.

With 99% of the vote counted, Miley won with more than 55% of the vote, nearly 3 million votes, according to Bloomberg data.

The country's economy minister, Massa, called Miley to congratulate him on his victory after more than 90% of the vote was counted – before the first official results were announced. Miley will begin his duties on December 10.

Argentina's long-running inflation crisis has been a hot topic in the South American country, with the Argentine peso's annual inflation rate rising more than 140 percent over the past 12 months.

Malley called his criticism of the country's central bank a scam and “a ploy by politicians to cheat good people with inflationary taxes.”

He referred to Bitcoin as a movement to “bring money back to its original creator, the private sector.”

Related: Bitcoin price hits all-time highs across Argentina, Nigeria and Turkey

However, it has not shown any interest in making Bitcoin legal tender in the country.

Live forever in absolute freedom pic.twitter.com/WzzzZaTcsz

— Javier Milei (@JMilei) November 19, 2023

Masa's views on money, banking and the cryptocurrency industry seem to be at odds with Miley's.

In October, Argentina pledged to launch a central bank digital currency (CBCC) if elected to “solve” Argentina's long-running inflation crisis.

Massa won the first round of Argentina's presidential election in October. However, it was not enough to win the presidency outright, triggering a final runoff vote.

Before that, Mille beat Messi and other candidates in Argentina's primary election in August.

Journal: Unstable Coins: Debasement, Bankruptcy and Other Risks Looming.