Bitcoin (BTC) Skyrockets as Pro- Bitcoin (BTC) Leader Milei Secures Victory in Argentina
Argentina’s presidential election has resulted in a surprising win for far-right libertarian outsider Javier Milei, causing a 2% surge in Bitcoin (BTC) and surpassing $37,200. The cryptocurrency community is celebrating this outcome due to Milei’s support for Bitcoin (BTC) and his criticism of central banks, which he deems as a scam.
Pro- Bitcoin (BTC) Leader Milei’s Victory
Javier Milei resurfaced victorious with an impressive 55% of the votes, securing a substantial lead of almost 3 Million votes more than his closest competitor. He is set to assume office on December 10, and the cryptocurrency community will closely observe his policies.
Inflation at its peak in Argentina
Argentina is as of now wrestling with severe inflation, with the peso’s annual rate surpassing 140%. Critics believe that Milei’s win presents a chance for change as he endorses Bitcoin (BTC) as a hedge against inflationary taxes. Though Bitcoin (BTC) is not considered legal tender yet in Argentina, his victory sparks hope for change in the nation’s monetary policies.
Bitcoin (BTC) Price Movement
Renowned analyst Ali Martinez predicts a positive trend trajectory for Bitcoin (BTC) as it gears up for the next halving, with some forecasting a 700-day bull run until October 2025. Bitcoin’s current price of around $37,117 is being closely monitored for probable altcoin breakouts.
Hot Take: The Impact of Milei’s Victory on Bitcoin (BTC) and Argentina’s Economy
Javier Milei’s victory in Argentina’s presidential election has had a swift impact on BTC’s value and brought intend to the cryptocurrency community. With his pro- Bitcoin (BTC) stance and criticism of central banks, Milei’s win signifies probable changes in Argentina’s monetary policies, making it a critical time for the cryptocurrency industry to watch closely.
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