Written by Cauê Oliveira and translated from blocktrends

Javier Milei, a candidate for president of Argentina who has made favorable remarks about Bitcoin, has won the country's primary elections. With 90% of the votes counted, Milei is leading with a commanding 30.5%, leaving behind traditional political giants such as the main conservative opposition party and the governing Peronist coalition, which are receiving 28% and 27% of the vote, respectively.

Milei's victory is a clear sign of the growing disenchantment of the Argentine population with the established political order, particularly in light of a crippling economic crisis marked by an inflation rate of 116%.

Milei, the representative of the group “La Libertad Avanza”, in his post-election speech, was emphatic about the need for change. He said: “We are the true opposition. A different Argentina is impossible with the same things that have always failed.”

Bitcoin, for its part, has reached record prices in Argentina, reaching an all-time high in terms of Argentine pesos, surpassing 8.4 million ARS for a BTC.

The monumental inflation paved the way for this major turnaround in the elections. Thus, Milei, who describes himself as an anarcho-capitalist, has been a defender of Bitcoin and has criticized the country's central bank, calling it a fraud.

"The central bank is a hoax, a mechanism by which politicians deceive good people with inflationary taxes," Milei argued previously. In relation to Bitcoin, he said that "it represents the return of money to its original creator, the private sector."

Therefore, Milei's economic vision for Argentina, rooted in libertarian principles, really distinguishes him. He highlighted in his victory speech: “Inflation is killing us and the uncertainty at work does not allow you to plan your life.”

Thus, with Milei's promise to close the central bank and dollarize the economy, Argentina is on the verge of a possible paradigm shift, both politically and economically.

The general elections in Argentina are scheduled for October 22. With Milei's growing popularity and his Bitcoin-friendly outlook, the presidential race promises to be a must-watch event.