Argentina’s main presidential candidate preaches Bitcoin

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Argentina, a South American country, will elect a new president in October 2023, and there is a good chance that a pro-Bitcoin candidate will be elected as head of state. The candidate in question is Javier Gerardo Milei, who is currently a federal deputy for Buenos Aires and has been compared by many to former US President Donald Trump and incumbent Brazilian President Jair Bolsonaro.

Milei, who is currently running in Argentina’s 2023 presidential election, can be classified as a die-hard Bitcoiner who preaches the Austrian school of economic thought and calls himself an “anarcho-capitalist”. the ass of Keynesians and collectivists” and raffles off his monthly salary to counter a government that he says is “robbing” ordinary Argentine citizens.

Bitcoin is the answer to central banks

In a recent interview, Milei was asked if he thought it was possible to discuss Bitcoin as a form of payment in Argentina. And the presidential candidate delivered an answer that could have made Satoshi Nakamoto proud. Milei said the central problem people need to understand first is that “the Central Bank is a scam. It is a mechanism by which politicians fool the right people with the inflationary tax.

Milei went on to say that Bitcoin represents money returning to its original creator: the private sector. Money is a private invention. According to the Argentinian politician, the legal tenders are the key for the politician to scam you with the inflationary tax. Bitcoin has an algorithm that one day will reach a certain amount and there will be no more and it can compete with other currencies.

Javier Gerardo Milei

Milei reinforced his point and went on to say that the problem is that governments and central banks don’t want to give up legal tender because they can cheat. [the people] with an inflationary tax, and concluded:

Bitcoin is the natural reaction against Central Bank scammers and to make money private again. […] In high inflation economies, the scam problem is greater. That is why, as I suggest, you can propose to close the Central Bank.

What is the probability of the rise of the Bukele in Argentina?

Milei is likely to lead the La Libertad Avanza coalition and has the support of 24% of respondents, according to an October 2022 poll by AmericaElects.

Remarkably, the poll was taken before one of Milei’s biggest political rivals, current Vice President Cristina Fernndez de Kirchner, withdrew her candidacy. A court sentenced her in December to six years in prison for corruption, which also bars her from holding future political office. With his departure, Milei’s relative lead could likely increase.

But since the coalitions have not officially announced their candidates, the contours of Argentina’s election are unclear at this time. Bitcoin supporters, however, can hope for a promising candidate who could eventually follow the example of Salvadoran President Nayib Bukele.

At press time, Bitcoin was trading at $16,844, registering a slight rise of 0.85% in the past 24 hours.

Bitcoin price, 4 hour chart

Featured image by Angelica Reyes / Unsplash and Perfil, chart from TradingView.com

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