- Pro-Bitcoin candidate Javier Milei unexpectedly leads preliminary presidential voting.
- Milei advocates for central bank elimination and Bitcoin’s role in the private sector.
- His surprising lead sets stage for a possible crypto positive Argentina.
In a surprising twist, Javier Milei, the libertarian candidate known for his pro-Bitcoin stance, has taken the lead in Argentina’s primary presidential election, or PASO. Despite pre-election polls projecting Milei to secure no more than a third-place finish, he has emerged as the front-runner. He holds 30.73% of the votes with 84% of ballots counted.
In detail, Milei, representing the “La Libertad Avanza” (Freedom Advances) party, has outpaced candidates from “Juntos por el Cambio” (Together for Change) and “Unidos por la Patria” (United for the Homeland), who garnered 28.14% and 26.84% of the votes, respectively.
Specifically, Milei is popular for his vocal criticism of the central bank and his favorable stance towards Bitcoin. Thus, Milei’s unexpected lead underscores the growing influence of cryptocurrency-related policies in the political landscape.
In fact, he has characterized the central bank as a tool for politicians to impose an inflationary tax on citizens, and he sees Bitcoin as a way to restore money to its original private sector creators.
However, Milei’s enthusiasm for cryptocurrency does not extend to making Bitcoin legal tender in Argentina, in contrast to El Salvador’s approach. Instead, he has advocated for the “dollarization” of the economy as a response to the nation’s triple-digit inflation rate.
As no candidate is projected to secure more than 45% of the vote in the PASO election, a general election featuring the top candidate from each party is scheduled for October. Should no candidate reach the 45% threshold in that election, a final runoff vote is slated for November.
This unexpected sway shows a potential shift in Argentina’s political landscape. Perhaps cryptocurrency-related policies and economic approaches will gain more prominence. The coming months leading up to the general election will determine whether Milei’s libertarian and pro-Bitcoin perspectives can translate into a broader shift in the nation’s policies and governance.
Read Also
disclaimer read moreCrypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
