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Libertarian and Bitcoin-Friendly Candidate Wins Elections in Argentina

Author

Jonathan Gibson

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2 mins
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Author

Jonathan Gibson

Tags

Category

News - Archive

Reading time

2 mins
Last update

Author

Jonathan Gibson

Tags

Reading time

2 mins
Last update

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Javier Milei became the first libertarian candidate in history to win Argentina’s primary presidential election. Milei is a pro-Bitcoin candidate and an economist that brought libertarian ideas to a country with yearly inflation that could reach 120% in the coming weeks. 

LIbertarian and Bitcoin-Friendly Candidate Wins Elections in Argentina

Argentina could have its first libertarian candidate become president in October this year. After winning the primary elections, Javier Milei of the “La Libertad Avanza” party could push for different policies to change the country’s trajectory. Milei received 30,04% of the votes and won against the two mainstream parties in Argentina “Juntos por el Cambio” (centre) and “Unión por la Patria” (left). 

Javier Milei is a Bitcoin supporter. The presidential candidate is against central banking and one of his proposals is to dismantle Argentina’s central bank. It is worth taking into consideration that inflation in the country has reached a yearly rate of 115% and it could continue to move higher. 

Despite being one of the richest countries in the world 100 years ago, Argentina embraced socialist ideas that brought poverty and misery. Milei believes that Bitcoin represents an opportunity to bring money creation back to the private sector and to remove the monopoly of monetary policy to central banks. 

Furthermore, Bitcoin represents an opportunity to put money back in the hands of the people. While he does not openly suggests that he will push for Bitcoinization in Argentina, he is working in order to dollarize the economy like Panama or Ecuador and eliminate the central bank. 

General elections will now take place on October the 22nd and there are large chances for Milei to become the first libertarian president in Argentina’s history.