In a significant political development, an Argentine politician advocating for Bitcoin adoption and the dismantling of the central bank has surged ahead in the country’s presidential open primary elections.
With more than 90% of the votes counted, Javier Milei, a prominent libertarian with pro-Bitcoin sentiments, has taken the lead with an impressive nearly 32% of the votes.
This places him ahead of the conservative Together for Change party, which has secured just under 30% of the votes, according to data from Bloomberg.
The Union for the Homeland coalition, representing the incumbent government, stands at the third position with slightly over 28.5% of the total votes.
Milei, a central figure in the Liberty Advances coalition (La Libertad Avanza), has been associated with views that span from libertarian to far-right ideologies.
Milei, who identifies as an anarcho-capitalist, has been a vocal proponent of abolishing Argentina’s central bank, labeling it a fraudulent institution.
He has also controversially stated that the trading of human organs should be treated as a regular market transaction.
He attributes the rise of Bitcoin to a response against what he terms “central bank scammers.”
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Furthermore, he argues that fiat currency enables politicians to exploit Argentinians through inflation, a message that has struck a chord with the country’s populace.
The resonance of Milei’s rhetoric among voters is driven by Argentina’s staggering annual inflation rate of 116%, the highest in over 30 years.
This dire economic situation has exacerbated the country’s ongoing cost of living crisis, making the call for alternative financial mechanisms like Bitcoin more appealing to a frustrated electorate.
The culmination of this political landscape will be Argentina’s general presidential election scheduled for October 22nd.
In the event that no candidate secures a minimum of 45% of the votes, a runoff election is slated for November.
As the nation grapples with economic challenges and increasing public support for unconventional approaches, the upcoming election holds the potential for a significant shift in Argentina’s political trajectory.
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