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Bitcoin Friendly Javier Milei Becomes New President of Argentina! Over a large part of the weekend, quietly trading Bitcoin, it began to rise over the discussions about Bitcoin made by Milei.
Earlier this year, when speaking about Bitcoin, Javier Milei used the phrase, “We need to understand that the central bank is a hoax.” He continued by emphasizing a return to the private sector, the true creator of money, represented by “what Bitcoin represents…“
However, Milei did not propose making Bitcoin legal tender. Instead, he called for the removal of the central bank and the dollarization of the economy, in response to the Argentine economy being rocked by inflation reaching 142% in October.
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Trading quietly for a large portion of the weekend, BTC rose late in the afternoon on Sunday after discussions related to a strong performance for Milei. Supported by this speech, BTC soared by about 3.60% within the last 24 hours to $37,500.
The economic reform proposals put forth by Milei reflect a bid to offer alternative solutions to Argentina’s economic challenges.
However, how these proposals will develop over time in terms of feasibility and impact remains a subject of curiosity. Milei’s approach to Bitcoin and economic proposals could stir more debate in financial and political circles.