HomeNewsA Revolutionary Vision: President Pitches Bitcoin as Central Currency

A Revolutionary Vision: President Pitches Bitcoin as Central Currency

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  • Javier Milei, a pro-Bitcoin libertarian, leads in Argentina’s preliminary presidential elections.
  • Despite supporting Bitcoin, Milei has not pushed for its use as legal tender, focusing on economic “dollarization”.

Unexpected Turn in Argentina’s Preliminary Polls

In a remarkable twist to Argentina’s political landscape, libertarian candidate Javier Milei, who has publicly voiced his criticism of central banks and shown a positive outlook towards Bitcoin, emerged at the forefront during Sunday’s primary presidential election. Representing the “La Libertad Avanza” (Freedom Advances) party, with 84% of votes accounted for, Milei secured 30.73%, outpacing his contenders from “Juntos por el Cambio” (Together for Change) and “Unidos por la Patria” (United for the Homeland) who garnered 28.14% and 26.84% respectively.

This unforeseen lead defies pre-election forecasts that projected Milei would land no higher than the third position.

Milei’s Vision: From Central Banks to Cryptocurrency

Milei has been forthright in his economic views, denouncing central banks as deceptive institutions. He once posited,

“The central bank is a scam, a tool enabling politicians to exploit citizens via inflationary taxation.”

His stance on Bitcoin leans positively, seeing it as a resurgence of monetary power in the hands of its rightful origin – the private sector. However, it’s crucial to delineate that while Milei supports the revolutionary cryptocurrency, he hasn’t championed its adoption as legal tender in Argentina, diverging from nations like El Salvador.

Instead, Milei’s vision for Argentina’s financial landscape revolves around “dollarization”, a strategy he believes would help combat the country’s spiraling triple-digit inflation rates.

Looking Forward to the General Election

Given the current voting trend, no contender is anticipated to surpass the 45% threshold during these preliminary polls. This sets the stage for a riveting general election scheduled for October, where each party’s lead candidate will face off. Should the October vote also fail to produce a candidate with over 45%, Argentina will gear up for a decisive runoff election in November.

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AnnJoy Makena
AnnJoy Makenahttps://www.ethnews.com
Annjoy Makena is an accomplished and passionate writer who specializes in the fascinating world of cryptocurrencies. With a profound understanding of blockchain technology and its implications, she is dedicated to demystifying complex concepts and delivering valuable insights to her readers. Business Email: info@ethnews.com Phone: +49 160 92211628