Argentina's Pro-Bitcoin Javier Milei Winning the Presidential Race

[Fundamentals Of]

Crypto news are all ecstatic about the victory of Javier Milei as the new president of Argentina. The reason is simply that the man has been vocal about his support for Bitcoin and his distrust of the central bank and the fiat currency.

It seems Javier's strong sentiment against the the collusion of the government and the central bank to abuse money to the detriment of the ordinary people is exactly the people's sentiment as well. This was reflected or translated into votes bringing him to the highest position of the land.

The perfect timing of the announcement and his opponent's act of conceding was probably the biggest reason for the rise in Bitcoin's price today. But I think this is just the beginning. Javier's pro-Bitcoin stance and the policies and decisions that would follow from it would probably drive a much stronger adoption in the country soon. Do you see the same thing? Will this be another big reason to be bullish?

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[mk4]

We already have a topic for this here: https://bitcointalk.org/index.php?topic=5474720

[Fundamentals Of]

We already have a topic for this here: https://bitcointalk.org/index.php?topic=5474720

I saw that but I think it was a different discussion. I intentionally opened this one in the speculation section because I wanted to hear it from others how they particularly think the price would move in relation to an election of a pro-Bitcoin president. Argentina is a much larger country in many terms compared to El Salvador. Bitcoin's government-led adoption in Argentina could really mean big to Bitcoin's price. It would probably cause more than just a tiny change.

[Majestic-milf]

Argentina is a much larger country in many terms compared to El Salvador. Bitcoin's government-led adoption in Argentina could really mean big to Bitcoin's price. It would probably cause more than just a tiny change.

You are right. But the question you should ask yourself is will he be able to abide by his promises he made when he was campaigning? The Argentine peso is facing a steady decline and if Milei can borrow a leaf from what Bukele did in El Salvador, as I believe it will help boost the economy.
We have seen some pro Bitcoin presidential candidates try to buy the minds of the citizens with mighty promises they know deep down they can't keep but since it will buy them votes, why not use it?
 Milei has vowed to abolish the Central Bank and dollarise the economy..I wonder what he means by that, but let's hope that along his long list of campaign promises, Bitcoin will be considered now he has become president.

[Sunderland]

Argentina is a much larger country in many terms compared to El Salvador. Bitcoin's government-led adoption in Argentina could really mean big to Bitcoin's price. It would probably cause more than just a tiny change.

You are right. But the question you should ask yourself is will he be able to abide by his promises he made when he was campaigning? The Argentine peso is facing a steady decline and if Milei can borrow a leaf from what Bukele did in El Salvador, as I believe it will help boost the economy.
We have seen some pro Bitcoin presidential candidates try to buy the minds of the citizens with mighty promises they know deep down they can't keep but since it will buy them votes, why not use it?
 Milei has vowed to abolish the Central Bank and dollarise the economy..I wonder what he means by that, but let's hope that along his long list of campaign promises, Bitcoin will be considered now he has become president.

The hype about this news bring the BTC price rising more than 2%, many people think the Argentina will become the next El Salvador.
But if we look closely, Argentina is the biggest debtor of IMF and we knew IMF is "Anti Crypto".



He definetely will change the peso to US dollar, and IMF will agree on that.
Hes pro crypto but he must bring the country out of the recession first, pay the loans to IMF then he will be able to set the policy for crypto on Argentina.
I guess 6 years might be still not enough for him to achieve that.

[Gozie51]

I would have said probably we are likely going to see another country fully adopting bitcoin like El Salvador but Argentina is quite bigger and it won't be that easy for him to be able to manipulate his way like Nayib Bukele did with his bitcoin agenda.

However, the news is already a good one for bitcoin and the vibes is also increasing price gradually. I think it is a good time awaiting the bull run next year.

[Amphenomenon]

The hype about this news bring the BTC price rising more than 2%, many people think the Argentina will become the next El Salvador.
But if we look closely, Argentina is the biggest debtor of IMF and we knew IMF is "Anti Crypto".

Yea this is true but we also know that bitcoin is bullish currently and next year is more likely to be halving and we will be expecting a new ATH after the coming halving within the next 2 years and also the hope of SEC accepting Bitcoin ETF is increasing, which makes now being a good time to invest in Bitcoin.
How feasible will it be for Argentina to invest in bitcoin to pay their debts?

[cryptomaniac_xxx]

The hype about this news bring the BTC price rising more than 2%, many people think the Argentina will become the next El Salvador.
But if we look closely, Argentina is the biggest debtor of IMF and we knew IMF is "Anti Crypto".

Yea this is true but we also know that bitcoin is bullish currently and next year is more likely to be halving and we will be expecting a new ATH after the coming halving within the next 2 years and also the hope of SEC accepting Bitcoin ETF is increasing, which makes now being a good time to invest in Bitcoin.
How feasible will it be for Argentina to invest in bitcoin to pay their debts?

We will have to see then, we've seen the price climbing back to $37k and others say that this is due to the news of the new Argentinian pro Bitcoin President. So it's too early to say if he will make Argentina the next El Salvador or potentially making it more Bitcoin friendly in his term. But seeing the price going up in the last 24 hours? For sure everyone is happy. And yeah, even if he didn't win, the scheduled block halving can't be stop. And then there is also the potential of a first Bitcoin Spot ETF approval. So definitely, there's a lot of good news coming. Also, we wish that Argentina can recover and make the country good again under their new President, regardless if he is pro-Bitcoin or not.

[blockman]

It could be one reason why Bitcoin has made it to $37,600 today but there can be more of the news that we've seen with this. But since I don't know about politics on Argentina and I don't know what's actually happening there. The people voted for him because they think that he's going to solve the problems that they're dealing right now especially the high inflation and economic downfall that they're having. If Javier will make or approve some policies that will be in favor of Bitcoin and it will be broadcasted by the media. Then, we've got another reason why it is going to be up again.

How feasible will it be for Argentina to invest in bitcoin to pay their debts?

This is hard and unknown for the results of it. What can happen is they will truly invest in Bitcoin and will have to wait until the price moves a bit and then cash out for profits that shall pay their debts. But this isn't ideal with that purpose and I hope they won't do.

[_BlackStar]

Yes – that is the good news. In the future bitcoin will get more support from the government instead of destroying it in various ways. Governments will take some friendly approaches to bitcoin regulation that are mutually beneficial between themselves and traders/investors - but I wouldn't be surprised governments change their stance so quickly when they don't get the commensurate benefits from bitcoin.

It is possible that bitcoin's return to $47K and above was due to the news of Javier Milley's victory as president of Argentina - but bitcoin will not have a major impact on the price increase until Javier Milley announces that Argentina is ready to adopt bitcoin as a legal currency as is the case in El Salvador.