Javier Milei, a pro-Bitcoin libertarian, has won big in Argentina’s primary elections, generating a whirlwind of debate nationwide. Milei champions Bitcoin as a solution to Argentina’s chronic economic woes, marked by unprecedented inflation rates.

With the national sentiment ripe for change, Milei’s unconventional stance may resonate with many. But is Milei’s pro-Bitcoin stance genuinely beneficial for the nation? Or is it a strategic play to secure votes from a tech-savvy and youthful electorate?

Milei’s Pro-Bitcoin Stance Is Deeply Rooted in Argentina’s Economic Woes

“Milei defines himself as a long-term anarcho-capitalist and a short-term minarchist,” said Tomás Santolin Godoy, Advisor at the Argentine Chamber of Deputies, in an exclusive interview with BeInCrypto. Godoy highlighted Milei’s ideological roots in the Austrian School of Economics, shaped by thinkers like Ludwig von Mises and Friedrich Hayek.

The 52-year-old politician, serving as a federal deputy of Buenos Aires and leader of the political coalition La Libertad Avanza, has an anti-central bank position that has gained popularity in a nation struggling with double-digit inflation.

“No matter how radical it may sound, whenever the central bank existed, there was inflation. When it didn’t exist, there was no inflation. Today, we have more than 10 different exchange rates for the US dollar against the Argentine peso. The central bank is considered one of the most significant factors in the Argentine ‘cancer,’ regarding all the businesses that exist around the dollar,” said Nikki Trader, a popular technical analyst in Argentina.

Central to Milei’s vision is his promotion of Bitcoin as a financial solution for Argentina’s deep-seated economic woes. “One must analyze his favorable stance towards Bitcoin as part of a broader context,” Godoy noted

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Author: Bary Rahma

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