Bitcoin President Wants to End Central Banks Era and Start With

• Argentina’s Pro Bitcoin Presidential Candidate Javier Milei is in the lead in the Primaries.
• As President, Milei has plans to focus more on Bitcoin that the Argentine Peso.

Many netizens have been caught by surprise after pro Bitcoin and far-right populist candidate Javier Milei emerged as the winner of Sunday’s primary presidential election in Argentina. Before now, it was believed that the libertarian candidate who has been advocating for the elimination of the Central Bank and upholding support for BTC will not go higher than the third position. 

Milei from “La Libertad Avanza” (Freedom Advances) party competed with other candidates from “Juntos por el Cambio” (Together for Change) and “Unidos por la Patria” (United for the Homeland). By the time 84% of the vote had been counted, the pro-BTC candidate was already leading the trio at 30.73%. On the other hand “Juntos por el Cambio” and “Unidos por la Patria” had only 28.14% and 26.84% respectively. 

Javier Milei and Bitcoin Currency Plans

With this kind of result, it is likely that Milei will defy the third-position narrative predicted for him. After the results were declared, the champion made a bullish speech stating that a different Argentina is not possible if the country keeps practicing the same old things. By ‘same old things’, he was probably referring to the current administration and approach to currency operations.

Milei has been pushing for the Central Bank of Argentina (Banco Central de la República Argentina, BCRA) to be abolished. In his opinion, the central bank is a scam and a mechanism through which politicians force inflationary taxes on the people. Meanwhile, he regards Bitcoin as a representation of the return of money to its original creator; the private sector.

In addition to his advocacy for BTC, the 51-years old candidate is campaigning to replace the Peso with the United States dollar and this stance has gained him support from citizens of Argentina. Franco Lesertessur, a 19-years old Argentine expressed happiness at the perceived change that Milei will bring with the dollarization of their economy. He claimed that all other countries that have been dollarized ended up moving forward and even stopped having inflation.

Will Argentina Still join The BRICS Nations?

With Argentina indicating strong interest to join member states of the BRICS (Brazil, Russia, India, China, and South Africa), Milei’s plan for the Peso seems to be out of place. 

The BRICS bloc is a collection of nations that have similar economic interests and one of such is the perceived hegemony of the United States and other Western countries in global affairs. Hence, one of the objectives of the bloc is to combat the dominance and absolute reliance on the U.S. 

Naledi Pandor, South Africa’s Minister of International Relations and Cooperation, revealed that BRICS members and other interested countries are questioning the necessity of relying on the U.S. dollar for their transactions, especially in cross-border payments. But like Milei, they are also considering Bitcoin as an alternative for such cross-border settlements.

Crypto News Flash does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. Crypto News Flash is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.