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Argentina’s Bitcoin (BTC)-friendly Javier Milei received the nation’s presidential run-off election on Nov. 19, beating out his opponent Sergio Massa.
With nearly 99% of the vote counted, Milei received over 55% of the votes with a virtually 3 million vote lead in accordance with Bloomberg data.
Massa, the nation’s minister of economic system, referred to as Milei to congratulate him on the victory after greater than 90% of the votes have been counted — earlier than the announcement of the primary official outcomes. Milei will take workplace on December 10.
Argentina’s long-lasting inflation disaster has been a heated subject within the South American nation, with the Argentine peso recording over a 140% increase in annual inflation within the final 12 months.
Milei has been vocal about his criticisms towards the nation’s central financial institution, referring to it as a rip-off and a “mechanism by which politicians cheat the nice folks with inflationary tax.”
He’s referred to Bitcoin as a motion towards “the return of cash to its authentic creator, the non-public sector.”
Associated: Bitcoin price hits all-time highs across Argentina, Nigeria and Turkey
Nevertheless, he has not signaled any intention to make Bitcoin authorized tender within the nation.
VIVA LA LIBERTAD CARAJO pic.twitter.com/WzzzZaTcsz
— Javier Milei (@JMilei) November 19, 2023
Massa’s views on the cash, banking and cryptocurrency business look like polar opposite to Milei.
In October, he pledged to launch a central financial institution digital forex (CBDC) if elected to “clear up” Argentina’s long-lasting inflation disaster.
Massa won the first round of Argentina’s presidential election in October. Nevertheless, it wasn’t sufficient to win the presidency outright, triggering the ultimate run-off vote.
Previous to that, Milei won Argentina’s primary election in opposition to Messi and different candidates in August.
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