Argentina’s Pro-Bitcoin Candidate Fails to Win First Round of Voting
Javier Milei, Argentina’s far-right and pro-Bitcoin candidate, was unable to secure victory in the first round of voting. Instead, Economic Minister Sergio Massa emerged as the winner with 36.6% of the votes, while Milei trailed behind with 30%. Patricia Bullrich, a former security minister, came in third with 23.8% of the votes. Many expected Milei to win outright due to his radical economic policies and views on inflation and the central bank’s fiscal policies.
A Battle for the Economy
The country’s struggling economy remained a key issue for both candidates. Milei blamed triple-digit inflation on factors such as government size, corruption, and the central bank. He proposed abolishing the central bank and adopting the US dollar as Argentina’s currency. In contrast, Massa criticized Milei’s views and called for support of the nation’s home currency. Massa suggested creating a Central Bank Digital Currency (CBDC) to boost economic growth and improve fiscal policies.
Milei Urges Supporters On
Despite not winning the first round, Milei encouraged his supporters to celebrate the milestone and emphasized that two-thirds of the country voted for change. He stated that Argentina must decide whether it can become a powerful nation or turn into “the biggest shanty town on Earth.” Massa promised to lead Argentina into a new phase free from uncertainty and dedicated to serving its people.
Hot Take: Runoff Election Scheduled for November 19
The first round of voting in Argentina’s presidential race has concluded without a clear winner. Economic Minister Sergio Massa secured the most votes, followed by pro-Bitcoin candidate Javier Milei. The runoff election will take place on November 19, giving both candidates another chance to convince voters of their economic visions for the country. While Milei’s radical policies resonated with many supporters, Massa’s proposal for a Central Bank Digital Currency may sway those looking for alternative solutions to Argentina’s economic challenges. The outcome of the runoff election will determine the direction Argentina takes in addressing its struggling economy.
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