Bitcoin-friendly Javier Milei wins Argentina presidential election

Argentina's Bitcoin (BTC)-friendly Javier Milei emerged as the winner of the country’s presidential run-off election on Nov. 19, defeating his opponent Sergio Massa.

Milei secures a decisive victory

With nearly 99% of the vote counted, Milei secured over 55% of the votes, with a substantial lead of almost 3 million votes, according to Bloomberg data.

Massa, the country’s minister of economy, graciously called Milei to acknowledge his victory, even before the announcement of the official results. Milei is set to assume office on December 10.

Tackling Argentina's inflation crisis

Argentina's persistent inflation crisis has been a burning issue in the South American nation, with the Argentine peso experiencing a staggering 140% annual inflation surge over the past 12 months.

Milei has been a vocal critic of the country’s central bank, denouncing it as a scam and a "mechanism for politicians to deceive the public with inflationary taxes."

He has hailed Bitcoin as a movement towards "restoring money to its original creator, the private sector."

VIVA LA LIBERTAD CARAJO pic.twitter.com/WzzzZaTcsz

— Javier Milei (@JMilei) November 19, 2023

Massa's contrasting stance

Massa’s views on money, banking, and the cryptocurrency industry seem to be in stark contrast to Milei's.

In October, Massa pledged to introduce a central bank digital currency (CBDC) if elected, as a means to "address" Argentina's long-standing inflation crisis.

Milei wins Argentina’s primary election

Prior to the run-off vote, Milei emerged victorious in Argentina’s primary election against Massa and other candidates in August.