The post Pro-Bitcoin Javier Milei Will Be The Next President Of Argentina appeared on BitcoinEthereumNews.com.

Table of Contents Pro-Bitcoin Javier Milei has won Argentina’s presidential run-off election, held on the 19th of November after his opponent Sergio Massa conceded defeat.  Milei has won over 55% of the votes, with over 99% of the votes counted so far, giving him a lead of over 3 million votes.  Javier Milei Wins Presidential Run-Off  Massa, Milei’s primary opponent and also the country’s minister of economy, called Milei to congratulate him after 90% of the votes had been counted, conceding defeat. Massa made the call before the official announcement of the results of the presidential run-off. Milei is set to take office on the 10th of December. The election was fought on several important factors impacting the country, chief among which is an inflation crisis that has crippled the nation’s economy. The Argentine Peso has registered a 140% increase in annual inflation over the past 12 months.  Nearly 40% of Argentina’s population lives in poverty, with inflation hovering around the 150% mark. To make matters worse the economy is expected to contract again during the current financial year. The government also has no access to international capital markets, while the country’s central bank has run out of money to help prop up any type of currency controls. There is also significant concern among the Argentine population about a return to hyperinflation after nearly three decades.  Milei has been extremely critical of Argentina’s central bank, at times calling it a scam and a mechanism used by politicians to cheat people with inflationary tax. Argentina’s presidential run-off vote is a simple popular vote, with only ballots cast in favor of Milei or Massa will be counted, leaving out blank or invalid votes. While voting is mandatory, voter participation has been low, with voters extremely disillusioned by both candidates.  Contrasting Views  Massa’s…

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Filed under: News - @ November 20, 2023 10:16 am