Argentina’s next president will be Javier Milei, as his opponent Sergio Massa acknowledged on Sunday evening, saying: “Argentinians have chosen a different path.”
With about 87% of votes counted, Milei has 56% of the vote while Massa has 44%, according to Bloomberg.
Bitcoin (BTC) was quiet for most of the weekend and began rising late Sunday afternoon following talk of a strong result from Milei. Following Massa’s admission, the cryptocurrency rose almost 3% to $37,350 in the last 24 hours.
“We need to understand that the central bank is a fraud,” Milei said earlier this year when asked about Bitcoin. “What Bitcoin represents,” he continued, “is the return of money to its original creator, the private sector.”
So far, however, Milei has not gone so far as to propose Bitcoin as legal tender. Instead, he is calling for the abolition of the country’s central bank and the dollarization of an Argentine economy suffering from inflation that reached 142% in October.
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