News - Why Javier Milei will be of little use to Bitcoin

By Mike Hesp

Why Javier Milei will be of little use to Bitcoin

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He opposes abortion, wants to abolish the central bank and believes climate change is a "socialist lie." Javier Milei's political agenda is radical - and has little use for Bitcoin.

"Long live freedom, dammit!" After Nayib Bukele, the Bitcoin-world a new favorite leader. He is also from Latin America. But his radical ideas have little to do with Bitcoin.

"You leftist bastards, there you go," the new president of Argentina shouts into the microphone. "Stick your state up your ass." In Javier Milei, a man has been elected president who makes no secret of his rejection of the state and contempt for political culture. He mocks, insults and has himself photographed with chainsaws, which are supposed to symbolize a radical reduction of the state apparatus.

He calls himself a libertarian anarcho-capitalist and ridicules state institutions. On a video can be seen how the president-elect is cutting over half of all ministries: Who needs a Ministry of Tourism, a Ministry of Culture, let alone a Ministry of Women, Gender and Diversity. It would be even better if state funds were made available for marginalized groups!

Does Argentina need someone like Milei?

There is no doubt about it: Javier Milei is an extremist. Therefore, is he perhaps exactly the man the stricken country needs right now? Somehow it is understandable that the Argentines have chosen someone who promises radical change. The frustration over decades of mismanagement by the Peronist state is too great: inflation is over 140 percent and more than 40 percent of Argentines live below the poverty line.

Given the fact that the South American country was one of the richest countries in the world at the beginning of the 20th century and has been on a downward spiral ever since, consistent political action is certainly needed now. So far, Argentine politicians have fought growing inequality with ever new redistributive measures - consistently looting state coffers. Social spending is rising immeasurably, financed by a gigantic mountain of international debt - not least because this is driving inflation in the country to ever new heights.

Javier Milei: His solution is a lean state

Milei has a relatively simple solution to all this: less government. He wants to replace the national currency, the peso, with the U.S. dollar and abolish the central bank altogether. At this point at the latest, Bitcoiners should prick up their ears. Exchange a fiat currency for another fiat currency? Not exactly typical of Bitcoin.

Milei is also a radical anti-abortion activist. So when self-proclaimed libertarian Milei talks about a consistent right to self-determination, he clearly means everyone - except women. His libertarian glorification of his anti-abortion stance, which he expressed to the right-wing conservative presenter Tucker Carlson, is an intellectual distortion of the highest order.

Milei is only truly libertarian when it comes to personal rights such as drug use and a liberal organ trade.

Still, Milei has occasionally spoken out in favor of Bitcoin. Bitcoin is "the return of money to its original creator, the private sector." However, this advocacy for Bitcoin has not yet resulted in concrete legislative plans.

Realizing his political plans will be difficult for Milei anyway. His party "La Libertad Avanza" does not have a majority in parliament.

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