Pro-Bitcoin Candidate Javier Milei Leads Preliminary Presidential Voting in Argentina

• 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.

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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.

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