Bitcoin instead of the Argentine peso? Ever since Bitcoin was accepted as legal tender in El Salvador on September 7, 2021, the cryptosphere has been eagerly waiting for the second country to fully accept the king of cryptocurrencies as its national currency. A potential Argentine presidential candidate may be capable of this, given his pro-Bitcoin and anti-fiat rhetoric.
Bitcoin-backing candidate with a chance of becoming Argentina’s next president?
When we talk about inflation and even hyperinflation, Argentina and its people are unfortunately well aware of the catastrophic consequences for the economy. If in the European Union inflation of more than 10% is already worrying many, then this is nothing compared to what this Latin American country has experienced.
This has given rise to politicians who are very hostile towards central banks and their fiat currencies. This is the case of the economist Javier Milea. And if we’re talking about him today, it’s partly because he likes bitcoin and partly because he would be very good in the race for the presidency of Argentina.
In fact, a libertarian could win up to 20% of the vote in the first round if the presidential election took place in a recent poll, according to Forbes newspaper. Thus, he could play the role of “surprise outsider” against two other favorites of candidates with much more traditional political views.
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Javier Miley is not shy about speaking out against the bankers, and he likes it
The politician seems to be of the caliber of “talking money”, and these statements seem quite clear, if not vociferous, compared to the usual political jargon. He does not hesitate to openly denigrate the printing of money and other activities of his country’s central bank.
Similarly, Javier Miley seems to be one of those (still rare) political figures who support bitcoin and decentralized cryptocurrencies as possible alternatives to banks’ fiat currency:
“Let’s see what the problem is first?” The problem, and the first thing to understand, is that the Central Bank is a scam. (…) It is a mechanism by which politicians defraud good people by imposing an “inflation tax”. Bitcoin represents a return of money to its original creator: the private sector. (…) Legal tender allows politicians to fool you with this taxation through inflation. Bitcoin has [code] which means that one day it will reach a certain number of units, and there will be no more new ones [ndlr : 21 millions d’unités]. What’s so good about it? This is a return of private money. (…) Bitcoin is a natural reaction against central bank scammers and an attempt to make money private again. »
A sharp speech that changes the usual damn litany of politicians. If he were elected, would Javier Miley really follow the path blazed by Naib Bukele, President of El Salvador? In any case, he may have to hurry if he wants Argentina to become the second country to adopt Bitcoin as a currency. Brazil, for example, has just recently taken a big step towards payments in cryptocurrencies.
Will Argentina soon have a bitcoin president like El Salvador? Good luck to this ambitious candidate! Without waiting for the election, secure your cryptos in your Ledger wallet. There is something for all budgets. Your security is priceless (commercial link).