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HomeWorld NewsCrypto-Friendly Javier Miley Wins Argentina's Presidential Election, Taking Much-Needed Step to Boost...

Crypto-Friendly Javier Miley Wins Argentina’s Presidential Election, Taking Much-Needed Step to Boost Prices

In a decisive victory on November 19, Javier Miley, known for his favorable stance towards Bitcoin, emerged as the winner of Argentina’s presidential election by defeating his rival Sergio Massa. With nearly 99 percent of ballots cast, Miley won more than 55 percent of the vote, giving her a substantial lead of nearly 3 million votes, Bloomberg data reports.

Recognizing Miley’s victory, Massa, who served as the country’s economy minister, congratulated her in a phone call before the formal release of official results, when more than 90 percent of the votes had been counted. . Miley is scheduled to take charge on December 10.

The enduring inflation crisis has been a contentious issue in Argentina, with the Argentine peso’s annual inflation rising by a staggering 140 percent over the past 12 months.

Also read: Cryptocurrency prices today: Bitcoin climbs above $37,000, Ethereum rises above $2,000

Miley has been vocal in his criticisms of the country’s central bank, labeling it a “scam” and describing it as “a mechanism through which politicians deceive the public with inflationary taxation.” He has supported Bitcoin as a movement toward “returning money to its original creators, the private sector.”

Conversely, Massa’s stance on money, banking, and cryptocurrency is a stark contrast to Miley’s views. In October, Massa committed to launching a central bank digital currency (CBDC) if elected, presenting it as a solution to Argentina’s enduring inflation crisis.

Although Masa won the preliminary round of Argentina’s presidential election in October, it was insufficient to secure the presidency, necessitating a final run-off vote.

Earlier in August, Miley emerged victorious in Argentina’s primary election, defeating Messi and other contenders.

Disclaimer: Crypto products and NFTs are unregulated and can be extremely risky. There may be no regulatory recourse for any losses arising from such transactions. Cryptocurrencies are not legal tender and are subject to market risks. Readers are advised to seek expert advice and carefully read the offer documents as well as relevant important literature on the subject before making any investment. Cryptocurrency market predictions are speculation and any investment made will be at the readers’ sole cost and risk.

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