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.