Bitcoin Backer Elected Argentina's President, Raising Prospect of Crypto Adoption
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Javier Milei, a bitcoin supporter, won Argentina's presidential election, sparking speculation he could push to adopt bitcoin as legal tender like El Salvador.
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Milei is an outspoken critic of central banks and has promised to "blow up" Argentina's political establishment and central bank.
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He sees bitcoin as a tool to counter inflation and corrupt financial systems, and a viable alternative to traditional economic structures.
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His presidency could "supercharge" bitcoin adoption and usage in Argentina as a solution to long-standing economic issues.
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Crypto experts predict his election will be positive for bitcoin prices long-term if he integrates cryptocurrencies into Argentina's economy.