Javier Milei Wins Argentine Presidency; Bitcoin Gains Nearly 3%

CoinDesk
CoinDesk

20 Nov 2023 12:38 AM

The self-described anarcho-capitalist has been supportive of bitcoin, calling it "the return of money to its original creator, the private sector."...

  • Javier Milei is set to become the next president of Argentina, as his opponent Sergio Massa has conceded.
  • With 87% of the votes counted, Milei has 56% of the tally, while Massa has 44%.
  • Bitcoin started rising late Sunday afternoon due to speculation about Milei's strong showing.
  • Following Massa's concession, the price of bitcoin has increased by nearly 3% in the past 24 hours to $37,350.
  • Milei believes that the central bank is a scam and sees bitcoin as a way to return money to the private sector.
  • He proposes eliminating the country's central bank and dollarizing the Argentine economy to combat high inflation.

The sentiment in the article is generally positive, as it highlights Milei's potential victory and the positive impact it has on bitcoin's price. However, there is also a critical view of the central bank and the country's inflation issues.

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You May Ask

Who is set to become the next president of Argentina?What is the current vote tally between Javier Milei and Sergio Massa?Why did the price of bitcoin start rising on Sunday?What is Milei's stance on the central bank and bitcoin?How does Milei propose to address Argentina's inflation problem?

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