News - Argentina: Bitcoin supporter ahead in primaries

By Mike Hesp

Argentina: Bitcoin supporter ahead in primaries

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Javier Milei won the most votes in Argentina's presidential election. He wants to radically change Argentina's monetary policy. Bitcoin also plays a role in that.

The primaries for the October presidential and congressional elections are currently taking place in Argentina. According to the preliminary counts Javier Milei goes into the lead with his coalition "Freedom Advances" (La Libertad Avanza).

The economist is considered radical in many ways, both socio-political and economic. An opponent of central banking - he wants to abolish it - he favors private money. For this reason, he is also considered a proponent of Bitcoin.

About Bitcoin, he is reported to have said that it "represents the return of money to its original creator, the private sector."

However, he has not yet expressed his intention to introduce Bitcoin as an official means of payment, as El Salvador has done. Instead, he plans to introduce the U.S. dollar as the main currency, following the abolition of Argentina's central bank.

Mass privatization of education, health care and money, among other things, seems to be a real option for many citizens in this economically troubled country. Latin America's third-largest economy is in a serious economic crisis. The inflation is more than 100 percent.

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