Argentina has elected Javier Milei as its new president, a significant victory for the staunch libertarian who is a strong supporter of Bitcoin. Milei defeated his opponent, Economy Minister Sergio Massa, with nearly 60% of the votes. This victory is notable as Massa had won the first round of elections in October. Milei’s victory has caused the price of Bitcoin to show signs of recovery, jumping back above the $37,000 mark. As an outsider to the established political system, Milei faces the daunting task of addressing the country’s economic challenges, including high inflation and significant foreign debt. He has promised sweeping changes, including cutting funding to various departments and ministries, and has expressed intentions to replace the Argentine Peso with the US dollar. Milei’s election has garnered attention globally due to his far-right views and radical anti-establishment sentiments, earning him the nickname “Donald Trump of Argentina.” While it remains unclear if Milei will make Bitcoin legal tender like El Salvador, it is evident that cryptocurrencies will play a role in his policies.

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Information	Details
Geography	South America
Countries	🇦🇷 🇸🇻
Sentiment	positive
Relevance Score	1
People	Nayib Bukele, Patricia Bullrich, Donald Trump, Sergio Massa, Javier Milei
Companies	Ministry of Culture, Ministry of Science and Technology, International Monetary Fund, Ministry of Education, Libertarian Party
Currencies	argentine peso, US Dollar, Bitcoin
Securities	None