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Bitcoin Revolution in Argentina? Presidential candidate Milei in profile

Javier Milei, a pro-Bitcoin libertarian, has won a landslide victory in Argentina’s primaries and sparked heated debate throughout the country. Milei advocates bitcoin as a solution to Argentina’s chronic economic woes unprecedented inflation rate Which marked them.

With the national mood ripe for change, Milei’s unusual attitude may appeal to many. But Milei’s pro-Bitcoin stance is really beneficial for the nation? Or is it a strategic move to secure votes from a tech-savvy young electorate?

Why Milei is in favor of Bitcoin

“Milei defines herself as long term anarcho-capitalism and short-term minarchism,” said Tomás Santolin Godoy, councilor in the Argentine Chamber of Deputies, in an exclusive interview with BeInCrypto.

Godoy emphasizes Mileis ideological roots of the Australian school of economicsformed by thinkers such as Ludwig von Mises and Friedrich Hayek.

The 52-year-old politician, who serves as federal deputy in Buenos Aires and leader of the political coalition La Libertad Avanza, represents a Anti-central bank positionwhich gained popularity in a country struggling with double-digit inflation.

Technical analyst Nikki Trader, popular in Argentina, explains:

“As radical as it may sound, whenever there was the central bank, there was inflation. When it did not exist, there was no inflation. Today we have more than ten different exchange rates for the US dollar against the Argentine peso. There Central Bank is considered one of the most important factors in Argentina’s cancer when it comes to all business dollars.”

Central to Milei’s vision is her promotion Bitcoin as a financial solution for Argentina’s deep economic problems. “You have to analyze his positive position on bitcoin in a wider context,” noted Godoy.

Therefore, it is not a simple populist maneuversuggested Milei’s position on bitcoin, but rather a part of his libertarian philosophy.

Global Inflation Outlook; Source: Statesman

In a country where inflation is a chronic problem and where a significant part of the population has turned to the US dollar for stability, the Bitcoin decentralization and autonomy consistent with Milei’s broader libertarian ethos.

Milei himself assured that “the charm of these technologies lies in their decentralization and autonomy”. The specific characteristics of the current economy of Argentina strengthen its fondness for cryptocurrency. Godoy notes this too chronic inflation and defies the government weakens the value of fiat money reduce and pushing people towards values ​​that are not subject to state control.

Is Milei just a populist?

nonetheless, there are also Argentine residents who have different opinions. Consider a lot Milei’s pro-bitcoin position as a strategic moveto secure votes from a tech-savvy and youthful electorate.

May Castillo, an advocate for the Argentine working class, says:

“I think he is one populist strategy. Most of Milei’s voters are young people between the ages of 19 and 35 who are sympathetic to cryptocurrencies. In fact, in Argentina there is a part of the population that does not even have a bank account. For Argentina, this represents an opportunity for tax evasion. Totally populist.”

The young demographic, frustrated by years of economic stagnation, is clearly drawn from Milei’s bold approach. Most most of all, according to Godoy, Milei is one of the few candidates who concrete ideas to solve problems in the country, regardless of the “populist” label.

Radical solutions versus traditional political maneuvers

The country has problems that go beyond just the financial sector. The increase Povertyespecially among the younger population, the Decrease in education indicators and increase in drug trafficking in the precarious settlements that have shaped the country for decades.

This disintegration of the social fabric generally poses a problem of enormous proportions. And given the gravity of the situation, Godoy understands that they propose. Changes are also extreme proportions would accept For this he explained:

“The gravity of the problems, in this sense, may be the necessary incentive for them society is more willing to try new and radically different solutionseven if it means concrete costs in the short term.”

Similarly, Nikki emphasized that Milei, there described as a far-right candidate will actively bring his “anti-systemic rage” into the political debate. But his proposals “resonate with a society that tired of traditional politics.” Nikki added:

“Argentina is currently experiencing a moment of political fragmentation, as the two major coalitions that have dominated politics for the past decade are seeing the landscape redefined. This situation has The door is open to new personalities and coalitionswhich suggests other alternatives.”

Argentina’s most extremist presidential candidate; Source: Statesman

nonetheless, there are also voices that speak about these radical measures To worry. This is pointed out by Martin Robaldo, a graduate of the National University of Cuyo in Mendoza, Argentina Milei’s political agenda has no basis have Here is how he criticized:

“Milei’s radical ideas prepared me great discomfort. In my opinion, these statements are aimed at a large part of the population disappointed by politics, but lacks any substantial basis. Even his party colleagues are showing this and his advisers are evasive about how they will be implemented.”

Milei’s strong showing comes at a time when Argentina’s 2 ruling political coalitions are being redefined. This created the opportunity for new personalities to emerge.

Indeed, the primary elections are on Sunday three candidates competing for the October election exposed. Javier Milei and Patricia Bullrich are on the right side of the ideological spectrum, while Sergio Massa is seen as a potential center-left progressive. In this electoral field, Godoy said:

“This suggests that the alignment of political forces resulting from the popular vote may be consistent with the identity of Milei’s program.”

Milei and CoinX Ponzi Scheme

Miles earlier Advertisement for CoinX’s alleged Ponzi scheme is a warning sign for some people. Robaldo sees this association as a sign of Mileus’ unreliability:

“Supporting a company sued for fraud, precisely in an area he says he is familiar with – the cryptosphere – generates even more mistrust in me.”

On the other hand, Victor Zapata, a former journalist at CNN en Español, considers the association of Milei with CoinX as a forgivable mistake:

“I think Milei was wrong when she recommended a Ponzi scheme. Milei admitted she asked for money for this advertisement. I think it was a mistake she made but it is there is no situation that damages his image hat.”

The public does not condemn Milei’s connection to CoinX, as many companies in the industry bear the label “famous or broken” today, but easily get into serious trouble tomorrow could Nikki insists that the industry’s lack of regulation makes everything unpredictable.

Opponents of the pro-bitcoin candidate

Although Milei’s populist appeal has not been dampened by his endorsement of CoinX, Godoy anticipates serious things. institutional obstacles, damage his popularity could

With a possible hostile legislature entrenched special interests such as unions and powerful industriesdepending on government protection, Godoy sees them Legislative and Judicial as veto players who might oppose Milei’s reforms.

The far-reaching implications of the event of a Milei government

Godoy see great work on the population and the entire political system in Argentina, should Mileis actually come to power with wonderful things:

Is society ready for these radical changes? Could they provoke a scenario of social explosion or widespread chaos?”

These questions depend very much on the candidacy of Mileis. “Its base of support is mainly made up of people with great economic difficultiesto make ends meet,” Godoy said. Milei’s image will suffer if expectations are not met.

Finally, Godoy elaborates:

“The hypothetical government of Milei is probabilistic by definition destined to be unstable, at least in its first stages. The drastic reforms he proposes could be difficult to implement without provoking major unrest in the country. Therefore, the key is to control this disease in order to reduce it both of them Duration as well as in the social impact at the lowest possible level decrease.”

Hero or hype, Javier Milei’s candidacy undeniably represents one dramatic departure from Argentina’s political norm As his campaign progresses, the world is watching closely to see if this pro-Bitcoin candidate can make his vision a reality.

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In accordance with Trust Project guidelines, this article presents opinions and perspectives from industry experts or individuals. BeInCrypto strives for transparent reporting, but the opinions expressed in this article do not necessarily reflect those of BeInCrypto or its employees. Readers should independently verify the information and consult a professional before making any decisions based on this content.

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