The post Bitcoin Receives Support From Argentine President Milei appeared on BitcoinEthereumNews.com.

In an exchanges on X, formerly known as Twitter, Argentine President Javier Milei reiterated his support for Bitcoin, emphasizing the freedom of currency competition in the nation. This dialogue was sparked by a casual greeting from the president on the social media platform, which led to a conversation about BTC. Milei Reiterates His Support For Bitcoin President Milei’s tweet, “HOLA A TODOS…!!!” received a playful response from Gabor Gurbacs, founder of PointsVille and a strategist at Tether, who replied, “Bitcoin a todos. :)” Milei then elaborated on his stance regarding the use of cryptocurrencies, stating, “There will be free competition of currencies so if you want to use Bitcoin there will be no problems… and you can also use other units such as WTI, BTU and the one that is most appropriate for your business… In accounting terms, it is solved by the functional currency method.” This statement underscores the Argentine government’s approach to not only tolerate but also support the utilization of various currencies, including BTC, within its economy. Gurbacs acknowledged this position, replying, “Makes sense. Free competition is good. Thanks President Milei!” However, the discussion also highlighted concerns about practical challenges in adopting Bitcoin as a mainstream currency. One user expressed a significant regulatory hurdle, commenting, “Hi Javier! Please note this, we cannot use Bitcoin as a currency if the regulations ask us to calculate capital gains in each transaction.” Another critique came from a user known as Calibre Culture, who lamented the president’s approach for not being as singularly focused on Bitcoin as El Salvador’s. He remarked, “Unfortunate that Milei doesn’t follow the proven El Salvador playbook, Bitcoin only. It would speed up progress and protect against scam coins.” Gurbacs responded to this, reinforcing his view with, “Free competition is enough.” On the contrary, BTC maximalist Max…

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Filed under: News - @ June 20, 2024 6:20 pm