In recent news, Argentine voters have shown support for a crypto favouring candidate. While the news marks a positive instance fir the crypto community, it isn’t much surprising and was something which was anticipated.
According to local media reports, Argentina’s pro crypto presidential candidate Javier Milei, who has advocated for the elimination of the central bank and spoken favorably of Bitcoin was leading the presidential race. Notably, Milei takes a laissez-faire approach to economics and politics. It means he believes in free markets with minimal intervention from the government. His manifesto also includes a plan to dollarize the Argentine economy which seems to have polarized the electorate.
In a recent interview, Milei had stated that the central bank is a scam, a mechanism by which politicians cheat the good people with inflationary tax.” On the contrary, about Bitcoin, he said that it “represents the return of money to its original creator, the private sector.”
However despite having a favorable attitude towards crypto, Milei has not advocated for Bitcoin’s use as legal tender within Argentina. Instead, Milei has called for a “dollarization” of the economy, which currently is dealing with a triple-digit rate of inflation.
Sources reveal that in the 84% of votes counted, Milei of the “La Libertad Avanza” (Freedom Advances) party had around 30.73% of the votes against candidates from “Juntos por el Cambio” (Together for Change) and “Unidos por la Patria” (United for the Homeland), who received 28.14% and 26.84%, respectively. Additionally, pre-election polls suggested Milei would finish no higher than third in today’s vote.
With no candidate likely to obtain more than 45% in today’s polling, a general election among the winner for each party will be held in October. If no one receives 45% in that vote, a final runoff vote will be held in November.
As reported by Todayq News previously, troubled by increasing inflation and currency devaluation, Argentine citizens have been looking forward to crypto assets and using it as hedge against inflation.
However, the support for pro-crypto candidate is not just limited to Argentina and a similar pattern has been witnessed in the United States. Amid the rising crypto adoption, US voters have shown inclination towards a crypto aware candidate.
To this, many lawmakers have been using crypto as a tool to lure masses being vocal about their positive stances. Simultaneously, eminent personalities including Jack Dorsey has endorsed Robert F. Kennedy Jr., one such pro-crypto US presidential candidate.