Will Argentina Be The Next El Salvador To Accept Bitcoin As Legal Tender?

[mvdheuvel1983]

If Argentina eventually makes Bitcoin a legal tender then it will send a strong message to the countries in the south-American region as well as their politicians before and during elections. Sincerely wishing that Javier Milley will not do what politicians do after they clenched the victory. If he eventually follows through on his campaign promises, Argentina may most likely be the next bitcoin destination for bitcoiners. 

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[lionheart78]

Why will he need to propose and make bitcoin a legal tender? Will making bitcoin a legal tender and becoming the next El Salvador make a difference? I don't also see it as a competition, as many people are almost taking bitcoin as a legal gender in countries and placing a bet on which country will be next.

It's a good thing if bitcoin is being accepted and recognised by governments and top regulatory authorities; it will expand coin usage and create massive awareness for the coin, which could also create room for price increases, but then again, we should not always have high hopes for things like this because it might end up disappointing us on that high hope. Another thing is that making bitcoin a legal tender takes a lot of process, and many opposition parties will stand out against that ruling party's decision as they will make everything look like you are forcing it on the people.

If Argentina becomes one of the Bitcoin friendly country, and legalized Bitcoin even if it does not implement Bitcoin as legal tender, it will open an opportunity for lots of company that wanted to take advantage of Bitcoin and the country being friendly.  This means investors that wanted to utilize Bitcoin will come to the country establishing company that will then give Argentina a source of income and will also open job opportunities for its citizen.
 

What is just the best thing to do is create a bitcoin-friendly environment and make things easier for those who want to trade, hold, or adopt it with a friendly regulatory system that should allow anyone who ever wants to use it to make use of it without criticising anyone as if they are being forced to do so.

I highly agree, that to attract crypto investors, a country must establish a friendly regulation for the crypto industry.  This will enable Argentina to take advantage of the growing cryptocurrency industry and might help a lot in its economy.

But the thing is, can Milley implement a Bitcoin friendly plan without opposition?

[flyingcarpet]

Javier Milley has won Argentina's second round of presidential elections. In Argentina's second round of presidential elections, Miley's opponent was left-wing candidate Sergio Massa.

Almost 90 percent of the votes have been counted in Argentina's presidential election. According to the preliminary results, Millei got about 56 percent of the votes. Masa got about 44 percent of the vote.

In other words, Milley won by a margin of more than 10 percent of votes over Masa.

Milley was elected president of Argentina at a time when the country was in the midst of an economic crisis. Inflation is increasing in the countryArgentina's annual inflation has exceeded 140 percent.
Milley sees Bitcoin as a transformative solution to improve her standard of living in Argentina. He envisions it as a way to return control of money to the private sector. Milley sees the decentralized nature of Bitcoin as the right way out of the centralized control exercised by Argentina's traditional financial institutions, including the central bank. So far, however, Milley has not explicitly proposed making Bitcoin legal tender in Argentina. If Milley proposes and implements it, Argentina will be the second country to use bitcoin as legal tender. As before, El Salvadar became the first country to use Bitcoin as legal tender in 2021.

It is obvious that we will see different things with Bitcoin in Argentina. The new president has a positive outlook on Bitcoin and is expected to make Bitcoin-related plans for the country. Frankly, I am curious to see what will happen.

Bitcoin is not a solution to the economic crisis. It may be wrong to look at it from this perspective. For the situation in Argentina, we can talk about Bitcoin being preferred as an investment tool that the country is investing in. It is not clear how much or whether these investments will be made, but if an investment is made in Argentina and this investment is valued, there may be an opportunity for economic relief.

[Renampun]

...
In other words, Milley won by a margin of more than 10 percent of votes over Masa.

Milley was elected president of Argentina at a time when the country was in the midst of an economic crisis. Inflation is increasing in the countryArgentina's annual inflation has exceeded 140 percent.
Milley sees Bitcoin as a transformative solution to improve her standard of living in Argentina. He envisions it as a way to return control of money to the private sector. Milley sees the decentralized nature of Bitcoin as the right way out of the centralized control exercised by Argentina's traditional financial institutions, including the central bank. So far, however, Milley has not explicitly proposed making Bitcoin legal tender in Argentina. If Milley proposes and implements it, Argentina will be the second country to use bitcoin as legal tender. As before, El Salvadar became the first country to use Bitcoin as legal tender in 2021.

believe it or not, I am sure that when Miley is elected president of Argentina, she will make Bitcoin one of the legal tenders in Argentina, I say this because I see her being very frontal with fiat money whose power continues to decrease every year or what is commonly known as Inflation is called, but Bitcoin has been observed to be very immune to inflation!! Until now, its price has fluctuated and that is what makes many people see Bitcoin as a promising investment. Argentina is not a superpower and their influence when making Bitcoin a legal tender will be enormous.

[Baofeng]

...
In other words, Milley won by a margin of more than 10 percent of votes over Masa.

Milley was elected president of Argentina at a time when the country was in the midst of an economic crisis. Inflation is increasing in the countryArgentina's annual inflation has exceeded 140 percent.
Milley sees Bitcoin as a transformative solution to improve her standard of living in Argentina. He envisions it as a way to return control of money to the private sector. Milley sees the decentralized nature of Bitcoin as the right way out of the centralized control exercised by Argentina's traditional financial institutions, including the central bank. So far, however, Milley has not explicitly proposed making Bitcoin legal tender in Argentina. If Milley proposes and implements it, Argentina will be the second country to use bitcoin as legal tender. As before, El Salvadar became the first country to use Bitcoin as legal tender in 2021.

believe it or not, I am sure that when Miley is elected president of Argentina, she will make Bitcoin one of the legal tenders in Argentina, I say this because I see her being very frontal with fiat money whose power continues to decrease every year or what is commonly known as Inflation is called, but Bitcoin has been observed to be very immune to inflation!! Until now, its price has fluctuated and that is what makes many people see Bitcoin as a promising investment. Argentina is not a superpower and their influence when making Bitcoin a legal tender will be enormous.

We can't be really sure if Javier Gerardo Milei will make Bitcoin legal tender in Argentina. We will have to wait for what his government is going or what direction it will be. Obviously, he will have to deal with a lot of problems first so maybe making Bitcoin as a legal tender will not be a his priority.

But if everything falls into pieces and he wanted to be the next country to legalized it, then by all means he can do that. And hopefully he learn from Bukele's regime, that it will not be an easy task as there will be always someone to opposed that legalization, just saying.

[CODE200]

Hopefully not. There's more than meets the eye in El Salvador, as the country's in shambles over which currency to use, among other problems they are facing after the fact. To me, El Salvador's a cautionary tale of what you shouldn't do as part of your plan to massively adopt crypto in your territory, since the majority of people in El Salvador practically hates bitcoin and crypto, airing out how inconvenient it became for them to just buy stuff and transact on a daily basis.

Don't get me wrong, what I'm only hoping to convey here is that I hope Argentina's story's a little better than what we got with El Salvador, the country got their first crypto-supportive president, if done right, he could usher in a new age where people are more receptive of using crypto on a daily basis.

[mirakal]

Well, that still remain uncertain as we are not yet sure if that is really the main goal of Milley. Being a bitcoin lover does not guarantee that he will eventually legalized bitcoin as a legal tender in their country. Let the citizens give their opinions and ideas about it first before he will take final action that will not come out as totally contradicting from the desires of the people. The role of the president is not to create a law for his own desires and satisfactions, but certainly for the benefit of all the citizens. If bitcoin could do that, then most probably the president will look into it at the time of his administration.

Most likely, he will create crypto-friendly laws first so that the people will test it if that will be effective or not, if that will be favored by majority or not. Otherwise, these people will form a strike just like the people of El Salvador when they first heard that bitcoin will be their legal tender.

[AmoreJaz]

Hopefully not. There's more than meets the eye in El Salvador, as the country's in shambles over which currency to use, among other problems they are facing after the fact. To me, El Salvador's a cautionary tale of what you shouldn't do as part of your plan to massively adopt crypto in your territory, since the majority of people in El Salvador practically hates bitcoin and crypto, airing out how inconvenient it became for them to just buy stuff and transact on a daily basis.

Don't get me wrong, what I'm only hoping to convey here is that I hope Argentina's story's a little better than what we got with El Salvador, the country got their first crypto-supportive president, if done right, he could usher in a new age where people are more receptive of using crypto on a daily basis.

it is fine for me if btc won't be accepted as legal tender but just be open with crypto-related businesses. they can always regulate the usage of it by implementing laws and other protocols about it. but at least, be more open to possibilities relating to this market. the containment is hard, as basically anyone can just do their business on their own. but the government can always draft their protocols to this industry just like any other industry.

[Sarah Azhari]

So far, however, Milley has not explicitly proposed making Bitcoin legal tender in Argentina. If Milley proposes and implements it, Argentina will be the second country to use bitcoin as legal tender. As before, El Salvadar became the first country to use Bitcoin as legal tender in 2021.

It's hard to implement it because I just heard he wants to use the dollar to recover the economic country. So when he replaces the Peso with the dollar, I think he will face a conflict of interest between the two countries. he will also create CDBC which I think it's still a centralization economy on Argentina. But so far, I am happy to hear that figure who supports bitcoin become a leader a big country like Argentina. I hope next, there will be another figure who supports Bitcoin becoming a leader a big country like the USA, I just heard that Robert F. Kennedy Jr is very supportive of bitcoin. So if next, Milley and Robert to be president of both countries and work together on bitcoin. Maybe we can meet a big surprise for the price.

[Seinlocko]

Adopting bitcoin might be a good idea too. The reason is that when El Salvador decided to adopt Bitcoin, at that time the country was also experiencing an economic crisis. So it's not wrong if Milley has the same thoughts as Bukele. Because currently El Salvador has experienced some quite good changes, after deciding to adopt bitcoin. Perhaps it was this positive impact that became Milley's big motivation to change the economic crisis in Argentina by using bitcoin. But even so, the possibility of changes to the economic system that can be achieved after adopting Bitcoin will probably take quite a long time.

[moneystery]

making bitcoin legal tender is a difficult thing to do, especially for a country as big as argentina because it will be related to their financial and banking system. maybe argentina's elected president has a passion for bitcoin and calls it a solution to argentina's banking system, but argentina also has a parliamentary system which makes regulations in their country so that the president doesn't just work alone with his vision and mission.

so the implementation of bitcoin in argentina is very unlikely considering that the argentine government has many stakeholders and the president does not only work alone. maybe argentina will launch their cbdc, but making bitcoin legal tender is unlikely.

[Darker45]

It's Milei, not Milley. 

Anyway, it's interesting to wait for this. There will surely be strong pressures from many sides not to do it. I'm sure President-elect Milei will be or is already receiving a lot of advice not to proceed dismantling the country's central bank or considering Bitcoin as a legal tender. Some might be borderline threat especially considering that Argentina is a member of G20.

Doing those might cost the country a lot. Milei's principles, will and courage, will all be tested now that he's already the president.

[Minor Miner]

making bitcoin legal tender is a difficult thing to do, especially for a country as big as argentina because it will be related to their financial and banking system. maybe argentina's elected president has a passion for bitcoin and calls it a solution to argentina's banking system, but argentina also has a parliamentary system which makes regulations in their country so that the president doesn't just work alone with his vision and mission.

so the implementation of bitcoin in argentina is very unlikely considering that the argentine government has many stakeholders and the president does not only work alone. maybe argentina will launch their cbdc, but making bitcoin legal tender is unlikely.

Anything can happen just like El Salvador did. If they have difficulty improving the value of their currency, why shouldn't they try bitcoin even though there is no guarantee that they will succeed? But if they don't try, if they don't take risks, they will always fail. I support them if they make bitcoin legal tender. Like El Salvador before it, they no longer have any solutions to improve their economy so they may see bitcoin as an opportunity. While not yet successful, they have made significant improvements since accepting bitcoin as legal tender, and I believe Argentina has the same opportunity.

[takuma sato]

making bitcoin legal tender is a difficult thing to do, especially for a country as big as argentina because it will be related to their financial and banking system. maybe argentina's elected president has a passion for bitcoin and calls it a solution to argentina's banking system, but argentina also has a parliamentary system which makes regulations in their country so that the president doesn't just work alone with his vision and mission.

so the implementation of bitcoin in argentina is very unlikely considering that the argentine government has many stakeholders and the president does not only work alone. maybe argentina will launch their cbdc, but making bitcoin legal tender is unlikely.

Anything can happen just like El Salvador did. If they have difficulty improving the value of their currency, why shouldn't they try bitcoin even though there is no guarantee that they will succeed? But if they don't try, if they don't take risks, they will always fail. I support them if they make bitcoin legal tender. Like El Salvador before it, they no longer have any solutions to improve their economy so they may see bitcoin as an opportunity. While not yet successful, they have made significant improvements since accepting bitcoin as legal tender, and I believe Argentina has the same opportunity.

Argentina has signed agreements with the IMF that will not allow them to pull an "El Salvador" move, so starting by this, this will not happen. He has higher priorities on his to-do list that are mastodontic by itself, such as the dollarization. He's going to need many millions to fund this process. I could see high yield bonds being bought if he manages to create an interesting scenario for investors. If they are capable of adopting the required measures on each step, he may make it, but he does not have enough power to do it all by himself, he is going to need to find agreements with other parties, and he is also going to have internal and external enemies because they don't want to see a libertarian to do well.

[bitterguy28]

picture source  [img height=350
Javier Milley has won Argentina's second round of presidential elections. In Argentina's second round of presidential elections, Miley's opponent was left-wing candidate Sergio Massa.

Congratulations to Javier for making its second time in position , and yeah His popularity seems to be Argentinian wanted to lead their counry .
and Also I love the Photo presenting Bitcoin by the president .

Almost 90 percent of the votes have been counted in Argentina's presidential election. According to the preliminary results, Millei got about 56 percent of the votes. Masa got about 44 percent of the vote.

that was close , a 12 percent deficit  , hoping that now  Bitcoin may be adopted to Argentina and next to the whole Latin America .
also advance greetings to argentinian for this job well done.

[famososMuertos]

...//:::
Anything can happen just like El Salvador did. If they have difficulty improving the value of their currency, why shouldn't they try bitcoin even though there is no guarantee that they will succeed? But if they don't try, if they don't take risks, they will always fail. I support them if they make bitcoin legal tender. Like El Salvador before it, they no longer have any solutions to improve their economy so they may see bitcoin as an opportunity. While not yet successful, they have made significant improvements since accepting bitcoin as legal tender, and I believe Argentina has the same opportunity.

No!

The community cannot be so deluded with the idea Arg-Milei-bitcoin, hence announcement in the libertarian idea of ​​the use of bitcoin and, the issue of eliminating the central bank does not mean that it has anything to do directly With bitcoin, nothing at all, it is a reference in your ideals, it does not mean that it is an execution in your government program. In fact, implementing the USD as the official currency is one of the first stages of his political plan.

The reality is that the implementation of certain laws for its use since there is certain legislation in this crypto matter, consequently that type of news is perhaps the most relevant in its government, at least in the short term to bitcoin.

[romero121]

Acceptance is different from adoption. Argentina will accept Bitcoin and regulate the usage, but adoption as legal tender similar to El Salvador is not possible thing in Argentina. Maybe in the long term they can realise the better part and consider it. For now people will be free to use cryptocurrency within the country unlike many other countries where it is banned. In some countries even people were arrested for holding cryptocurrency.

[Popkon6]

Argentina's Peso stands against inflation and supports Bitcoin. Because bitcoin is the real people's currency because people who are currently connected to bitcoin are always satisfied with bitcoin. It is best to prioritize Bitcoin by following all the activities that are currently Bitcoin supported in Argentina. Argentina will continue to target El Salvador in the future as their interest in Bitcoin is high. Now, if the president of Argentina keeps bitcoins, then this bitcoin will protect him from the economic impact in the future. Because Bitcoin is a valuable asset only real people use Bitcoin.

[Iranus]

Acceptance is different from adoption. Argentina will accept Bitcoin and regulate the usage, but adoption as legal tender similar to El Salvador is not possible thing in Argentina. Maybe in the long term they can realise the better part and consider it. For now people will be free to use cryptocurrency within the country unlike many other countries where it is banned. In some countries even people were arrested for holding cryptocurrency.

What's the reason why Argentina can't make bitcoin a legal tender? As you also said, people there are free to use bitcoin and cryptocurrencies in the country, which means the chances of the government making bitcoin legal tender are higher.

Inflation there has increased to 146% and that is a huge number. I don't think using bitcoin can help them completely escape inflation but they can try because like El Salvador, they are also slowly getting out of trouble since accepting bitcoin as legal tender.

[el kaka22]

Honestly, this could be possible considering the new president, but more importantly if we could see this happen, it would be the biggest nation that has ever done this. For people who do not know about Argentina, they are not as poor as they seem, I mean the yare poorly managed, but if you look just 10 0years ago, they were one of the richest nations in the entire world, they were doing insanely well.

Just like how people went to USA and found resources and free land and got rich, same happened back at Argentina as well, then terrible politicians happened and they were not doing great. I am not saying this new president will be great, or even better, but he could be the type of person who could let bitcoin be legal tender.