Argentina Welcomes Pro-Bitcoin President Javier Milei

• Argentina woke up to a new president on November 20 after Javier Milei won the polls over the weekend.
• Milei won the elections by securing 56% of the vote, compared with 44% for his rival, Sergio Massa.
• Milei is a huge supporter of Bitcoin and has policies lined up against central banks after their failure in Argentina.
• MicroStrategy utive Chairman Michael Saylor and former US President Donald Trump congratulated Milei.

Argentina, a country in South America that is suffering from sky-high inflation levels, welcomed its new president this week after far-right libertarian outsider and Bitcoin (BTC) supporter Javier Milei won the polls over the weekend. Milei is a strong advocate of digital assets and is against central banks

According to a report from the BBC on November 20, Milei won the elections by securing 56% of the vote, compared with 44% for his rival, Economy Minister Sergio Massa. Interestingly, the former President of the United States, Donald Trump, who is also gunning for the 2024 presidential elections, congratulated the new president of Argentina on his victory, saying he would “Make Argentina Great Again!”

Milei Seeks to Boost the Economy of Argentina

Milei’s views have made him a fan favorite in recent months. Argentina is currently dealing with central bank failures and rising inflation levels. The local pesos have collapsed, and people are now heavily reliant on the United States dollar, cryptocurrencies, and stablecoins

Additionally, in a November 19 victory speech in Buenos Aires, Milei said, “Today begins the reconstruction of Argentina. Today begins the end of Argentina’s decline. The model of decadence has come to an end. There is no way back,” while adding:

“Argentina will return to its place in the world that it should never have lost. We are going to work shoulder-to-shoulder with all nations of the free world to help build a better world.”

Bitcoiners Come Out in Support of Milei

On the other hand, rival Massa noted, “Obviously, the results are not what we expected. I have contacted Javier Milei to congratulate him.” Further, the former CEO and utive Chairman of MicroStrategy, a leading American company, Michael Saylor, also congratulated Milei: “Bitcoin is hope for Argentina. Congratulations J.Milei.”

#Bitcoin is hope for Argentina. Congratulations @JMilei.

— Michael Saylor⚡️ (@saylor) November 20, 2023

Bitcoin supporter Max Keiser, who has half a million followers on social media platform X (formerly known as Twitter), called for a meeting between Nayib Bukele, the President of El Salvador, and Milei. The Central American country was the first to adopt Bitcoin as legal tender in September 2021

As per publicly available data, inflation in Argentina is close to 150%, which is the reason for many people suffering in the country. As reported earlier by Bitnation, the South American country debuted its first Bitcoin futures contract on July 13. It is traded on the Matba Rofex exchange.