Crypto Revolution Through Javier Win in Argentina Election

Javier Milei, another high-profile politician backing Bitcoin has got an unexpected victory. His alliance, La Libertad Avanza (Liberty Advances), has received 30% of the votes beating the contender Juntos Por El Cambio (Together for a Change).

Before the results, La Libertad Avanza was considered a very small party that got little recognition in Congress. It was founded in 2021 and received 17% of the votes in Buenos Aires during its first legislative elections. These elections earned two congressional seats which were taken by Javier Milei and Victoria Villarruel.

Javier Milei Declared Inclination Towards Crypto through previous statements

Because of Milei, Adam Dubove, an Argentine Bitcoin enthusiast has voted for the first time. Javier Milei has already included the benefits of Bitcoin and crypto during his presidential campaign. He has mentioned Bitcoin and Ethereum as a return of money to its original creator, the private sector. He also stated the limited supply of Bitcoin and considered it a safer alternative than gold or silver.

Once Javier Milei was charged for marketing a fraudulent investment scheme in Argentina called Coinx. The company is charged with stealing $800,000 in Argentine pesos. Milei has given an interview in 2022 in which he disagreed with any mischief by the company which provides high monthly interest rates of up to 8%. He added that their business model is the same as a bank but their interest rate is not regulated by the central bank so they can pay more interest.

The co-founder of Money on the Chain, Ferrari, pointing to the 2019 video in which a candidate declares that he is not a specialist in cryptocurrency, says that he does not think that Milei is pro-Bitcoin. He added that Milei is the least responsible presidential candidate to make things wrong about Bitcoin. Also, the freedom to select the cryptocurrency does appeal to him.

Argentina is recently suffering from uncontrolled inflation which is 135% this year. The Central Bank of the country has shown the anti-crypto moves through a ban on digital wallets. But Chainalysis ranks Argentina’s crypto adoption at 13th worldwide.

Some in the crypto industry are optimistic that Milei might push for improving the Bitcoin standard and crypto measures.

Last year, Javier Milei also claimed that he would shatter those who are cheating the good people through inflationary tax.

Summary

Javier Milei, an Argentine politician who supports Bitcoin wins the election. He is leading with nearly 32% of the votes. He appears to understand money and is popular among Argentina’s voters. He has taken a commanding lead in the Argentinian primary elections.