The post Bitcoin’s price on the rise: near all-time high in Argentina after Javier Milei’s victory appeared on BitcoinEthereumNews.com.

The Bitcoin price is returning near all-time highs in Argentina after Javier Milei, crypto advocate and recent winner of the presidential election, was elected as the country’s new president last night.  Argentina’s newly elected president has previously expressed favorable views toward Bitcoin, describing it as “the return of money to its original creator: the private sector.” See below for all the details.  Impact of elections: Bitcoin nears record price levels in Argentina As anticipated, the price of Bitcoin in Argentina is again approaching record highs following the victory of Javier Milei, a supporter of the prestigious crypto, in the country’s presidential election last night. Specifically, Bitcoin surged 2% from about 13 million to 13.2 million Argentine pesos after the announcement and then stabilized. It currently stands at 13.17 million Argentine pesos, according to CoinGecko data. However, despite the price increase, Bitcoin has not yet reached new all-time highs in the country, set at 13.37 million Argentine pesos on 16 November.  That figure had been set in conjunction with the strong rise of Milei, which became the favored candidate on the decentralized forecasting platform Polymarket. Moreover, the current rise is not comparable to that which occurred when Milei triumphed in the summer primaries on 13 August, leading Bitcoin to rise more than 20% to 10.2 million Argentine pesos in just 24 hours. In the past 24 hours, Bitcoin has also surged 1.5% in U.S. dollar terms, currently trading at around $37,215 according to price data from The Block. Javier Milei: “Bitcoin as an alternative to economic decline” Recently, Javier Milei, the winner of the recent presidential election in Argentina, expressed support for Bitcoin’s potential as a monetary alternative, calling the central bank a “scam.”  However, despite similarities with El Salvador’s president Nayib Bukele, who legalized Bitcoin in his country, Milei seems…

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Filed under: News - @ November 20, 2023 8:24 pm