Bitcoin-friendly Javier Milei won the country’s presidential run-off election on Nov. 19, beating out his opponent Sergio Massa. With almost 99% of the vote counted, Milei won over 55% of the votes with a nearly 3 million vote lead according to Bloomberg data.
SourceWhen I watched to their presidential election debate, I noticed he has a lot of similarities with former president of the US. He was vocal about his plans and visions and seems determine to do just like he said. He challenged the financial systems and promised to embark on several reforms that will change the status quo including the central banking system.
But I see a little problem in all of them. Will he have the political will to challenge the powers that be? Argentina is not that of a strong country and they have a lot of unsettle businesses with IMF, can Javier Milei withstand the pressure from these powerful organisations?
As for the future of Bitcoin in Argentina, the new administration will most likely legalise Bitcoin just like El Salvador did but I don't think they will see the benefits immediately because they have a lot to address ranging from unemployment, inflation and poverty.