Bitcoin supporter Javier Milay leads in Argentina’s primaries

  • Argentina’s first round of presidential elections has ended. 
  • The “anarcho-capitalist” Javier Miley has won the primaries. 
  • He supports cryptocurrency, opposes tight monetary policy and aims to beat inflation. 

Avanza Libertad party candidate Javier Miley won the first round of Argentina’s presidential election, Bloomberg reported, citing PASO. The odious politician is known for his rejection of the current political course in the country, as well as his ardent support for bitcoin.

The publication said Miley won 31.57 percent of the vote. Juntos por el Cambio candidate Patricia Bulrich and Unidos por la Patria’s Sergio Massa received 17.85% and 22.49%, respectively. 

Since none of the contestants crossed the 45% threshold, all three will participate in a runoff on October 22, 2023. 

What is known about Javier Milea?  

In 2022, while campaigning, the politician gave an interview to Clarin. In it, he commented on his course, as well as his attitude to cryptocurrency.

The following are a few of the points from the conversation:

  • Central bank is a scam, the regulator’s activities only spur inflation
  • bitcoin allows the control of money to be returned back to end consumers
  • it is safer for transactions than silver and gold
  • the bitcoin algorithm serves as a natural limiter of inflation.

Miley calls himself a “libertarian economist”. El Pais gives a slightly different characterization:

  • The politician considers organ sales legal if they are done with the consent of both parties;
  • He calls climate change a “socialist ploy.”
  • The politician opposes abortion and sex education in schools;
  • Miley considers the state “the enemy” and the government “a bunch of rats.” 

He also advocates dollarization of the economy:

“Carlos Menem [former Argentine president] launched the Convertibility plan in April 1991. In two years, we became the country with the lowest inflation in the world. I propose free competition of currencies, complete reform of the financial system. And yes, I believe Argentines will choose the U.S. dollar.” 

Bloomberg experts believe a first-round victory for Miley would lead to a drop in demand for government bonds. It is also likely to entail a stage of high volatility, the publication emphasized. 

We previously reported that Miley was accused of promoting a “Ponzi scheme” in the form of the CoinX platform. The politician denies it.

A politician denies it.