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Breaking News: Major Win For Memecoins: SEC Affirms They Typically Do Not Qualify As Securities

Argentina Welcomes First Pro-Bitcoin President, BTC Price Surges Above $37,000

Scott Matherson
Scott Matherson
1 year ago
3 mins read
Javier Milei Argentina Bitcoin Small

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In a historical moment for both the nation and the crypto community, Argentina has ushered in a new era by welcoming its first-ever pro-Bitcoin President. 

Argentina Elects Pro Bitcoin President

On November 19, Argentina released the results of its presidential election. Reports of the election results reveal that right-wing libertarian and Bitcoin advocate, Javier Milei won almost 56% out of 90% of votes counted. While his rival candidate, Minister Sergio Massa garnered 44% of the votes. 

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The momentous victory positions Milei as the face of a new era in Argentina, marked by his stated commitment to solving inflationary problems in the country by abolishing the country’s Central Bank and using digital currencies like Bitcoin. 

In a public victory speech to his supporters in Buenos Aires, Milei declared that the transformative process of Argentina had just begun and the country was on its way to economic recovery. He promised to work with all the nations to help develop Argentina and make it a better country. 

“Today begins the reconstruction of Argentina. Today begins the end of Argentina’s decline. The model of decadence has come to an end. There is no way back,” Milei stated. 

He further added that “Argentina will return to its place in the world that it should never have lost. We are going to work shoulder-to-shoulder with all nations of the free world, to help build a better world.”

Former President of the United States, Donald Trump commended Milei on securing victory in the Argentinian Presidential election. He expressed his pride in Milei’s incredible feat and stated his anticipation for Milei’s efforts in restoring Argentina. 

“Congratulations to Javier Milei on a great race for President of Argentina. The whole world was watching! I am very proud of you. You will turn your Country around and truly Make Argentina Great Again,” Trump stated. 

BTC Price Surges As Argentina Embraces New Era Of Crypto

Following the news of Javier Milei’s victory in Argentina’s Presidential elections, Bitcoin price has been on an upward trend, trading above the $37,000 mark. The price of the cryptocurrency at the time of writing is $37,199 according to CoinMarketCap. 

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One of Milei’s primary policy plans as Argentina’s President is to discontinue the use of the Argentinian peso and adopt the United States Dollar as the country’s main currency. He has also mulled over the introduction of Bitcoin as a potential legal tender and declared possibilities of launching a Central Bank Digital Currency (CBDC) in Argentina. 

While the proposals aim to significantly reduce the long-lasting inflationary crisis in the Argentinian economy, the involvement of Bitcoin could potentially herald a new wave of economic growth for the crypto industry.

Bitcoin price chart from Tradingview.com (Argentina)

BTC recovers following Milei's win | Source: BTCUSD on Tradingview.com
Featured image from Cryptopolitan, chart from Tradingview.com
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Scott Matherson
Scott Matherson

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

Read more

Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.

With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.

Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.

Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.

Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.

Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.

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Reason to trust

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