The next president of Argentina is a Bitcoin supporter.

In Argentina's presidential run-off election, far-right Javier Millay has won. Miley's victory is crucial in Argentina's ongoing inflation crisis.

In particular, he is known to support the use of Bitcoin and has proposed replacing the Argentine peso with the US dollar in response to the current economic situation.

In inflation, Miley won the presidency of Argentina

Javier Mille has emerged victorious in Argentina's presidential election, with provisional results leading Sergio Massa 44 percent to 56 percent. This result will bring about a major change in the country's political and economic situation.

In a shock victory speech, Miley vowed to restore the country's lost international standing, declaring that “Argentina's reconstruction begins today.”

Miley's victory marks the end of a long period of Peronist rule as Argentina faces inflation and economic instability. Milei described his support for Bitcoin as a way to empower the private sector and regain financial control.

In addition, Argentina's central bank advocates for the elimination of what it considers to be fraud.

However, unlike El Salvador's president, Buquele, who has accepted bitcoin as legal tender, Mille prefers to accept the US dollar in Argentina's economy, which the country is teetering on with an inflation rate of 142.7%.

Meanwhile, Argentina has shown great interest in cryptocurrency, with transaction volumes of 85.4 billion dollars and large grassroots adoption. This tendency is to avoid peso depreciation, high inflation and limited access to foreign exchange.

Additionally, earlier in the year, a large group of Argentines rallied in support of Bitcoin by rallying in the form of the BTC logo against the nation's high inflation.

Miley Victory Garners Global Mixed Response

Miley's victory received mixed international reactions. The former US President Trump congratulated Argentina after seeing it renewed under his leadership. White House National Security Adviser Jake Sullivan echoed these sentiments and emphasized the United States' desire to strengthen bilateral relations based on shared democratic values.

South American leaders including Brazilian President Luiz Inacio Lula da Silva and Chilean President Gabriel Borich offered their congratulations and support. On the other hand, the President of Colombia, Gustavo Petro, has expressed concern that Mille's neoliberal agenda is insufficient for the challenges of Latin America.

Miley's rival, Sergio Massa, who favors the introduction of a central bank digital currency (CBDC) to solve Argentina's inflation problem, conceded defeat and revealed the heavy responsibility that now rests on Miley's shoulders.