In a historic upset, Javier Milei, the outspoken advocate for Bitcoin and shock therapy economics, secured a decisive victory in Argentina’s presidential election, promising radical measures to revive the country’s economy.
Milei’s triumph in the second-round runoff election, claiming 56% of the votes against Sergio Massa’s 44%, stunned the nation. Massa, a key figure in the Peronist coalition government, conceded defeat as the final ballots were tallied.
Unveiling his vision for Argentina, Milei pledged an aggressive approach, asserting that gradual tactics were insufficient to confront the soaring inflation and currency devaluation plaguing the nation. He declared, “There’s no room for gradual measures,” signaling a seismic shift in economic policy.
The President-elect’s plan involves audacious steps, including the dissolution of the central bank, a 15% cut in public spending, and a bold move away from the Argentine peso in favor of adopting the U.S. dollar.
Notably, Milei’s fervent advocacy for Bitcoin took center stage during his campaign. He championed the cryptocurrency as a means to wrest control from centralized entities, calling it “the return of money to its original creator, the private sector.” His scathing critique of the central bank labeled it a historical “swindle” that imposes an “inflationary tax” on the populace. Milei portrayed Bitcoin as the antidote to what he termed “central bank scammers.”
As Milei prepares to assume office, Argentina braces for an era of unprecedented economic experimentation, with the promise of a Bitcoin-centric future at the core of its transformation.