Pro-Bitcoin President in Argentina - It's Happening!

Argentina has become the first G20 nation to elect a pro-Bitcoin President, Javier Miliei.

And the market really liked it, as Bitcoin shot back up past $37,000

It remains to be seen what shape or form President Milei’s policies will take towards Bitcoin, but he has made very strong statements in its favour, and against central banking.

• Pro-Bitcoin:

  • "Bitcoin represents the return of money to its original creator, the private sector."

  • "Bitcoin is the people’s reaction against what I call the central bank scammers."

  • "Bitcoin is a way of escaping the monetary repression imposed by the state."

  • "Bitcoin is a form of private money that is not subject to the whims of politicians and central bankers."

  • "Bitcoin is a technological innovation that has the potential to revolutionise the financial system and empower individuals."

• Anti-Central Bank:

  • "The Central Bank is one of the greatest thieves in the history of mankind."

  • "The Central Bank is the worst garbage that exists on this Earth."

  • "The Central Bank is the main cause of inflation, poverty and economic decline in our country."

  • "The Central Bank is a scam that falsifies pesos and steals from the people."

  • "The Central Bank should not exist. It should be abolished and replaced by a free market monetary system."

• Anti-Inflation:

  • "Inflation is a tax on the poor and the middle class. It erodes their purchasing power and reduces their quality of life."

  • "Inflation is a consequence of the fiscal irresponsibility and monetary expansion of the government."

  • "Inflation is a form of theft. It transfers wealth from the productive sector to the parasitic sector."

  • "Inflation is a symptom of a sick economy. It reflects the lack of confidence and credibility in the currency and the institutions."

  • "Inflation is a social evil. It generates uncertainty, instability and social conflict."

• Policy Intentions:

  • "If I become president, I will close the central bank on the first day of my administration."

  • "If I become president, I will dollarize the economy and end the peso nightmare once and for all."

  • "If I become president, I will audit the central bank and expose all the corruption and fraud that has been committed there."

  • "If I become president, I will free the exchange market and eliminate all the capital controls and restrictions that suffocate the economy."

  • "If I become president, I will promote the use of cryptocurrencies and other forms of private money that compete with the state monopoly."

Argentina becomes the second nation in Latin America to elect a Bitcoin friendly head of state, after El Salvador made Bitcoin legal tender under the leadership of President Nayib Bukele.

Max Keiser, a key member of President Bukele’s team of Bitcoin advisors, says President Bukele has given the green light to a diplomatic visit to Argentina by El Salvador’s Bitcoin team on a mission of “peace and economic freedom.”

In addition to this, Max has more bullish news of 3 more nations in LATAM making Bitcoin legal tender in early 2024.

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Cheers,
Archie