Argentina is seeing its first budget surplus in 12 years just a few months into Javier Milei’s term as President.
It may be too early to draw conclusions, but I’m a little more optimistic that the task of stopping excessive spending and balancing the budget is actually an easy one (assuming the leader is motivated to do so).
However, Bitcoiners often speak about the ills of money printing as if the state absolutely must continue to print more and more money once they’ve begun down the road of fiat money, and all money printing ends in hyperinflation and ruin.
Maybe that’s not true. Maybe it is easier for a state to course-correct than most Bitcoiners believe it is. I’m not saying it certainly is, but let’s entertain the possibility that it is.
- What does it mean for Bitcoin adoption if governments are able to shut off money printing in a matter of months in a similar way to Argentina?
- Does this change your expected value of Bitcoin?
- Does this change your timeframe for Bitcoin adoption?
As a Bitcoin argie I can tell you this:
Does not matter if peso or dollar. What Milei did is not shut down the money printing, he is just not paying stuff.. Remember Caputo got 4.700M from FMI past January..