- The crypto world witnessed a new day with the victory of Javier Milei, a Bitcoin supporter and candidate, in the Argentina presidential elections, defeating his rival Sergio Massa.
- Milei’s victory garnered praise from significant figures in the crypto space, including Michael Saylor of MicroStrategy, Arthur Hayes of BitMEX, and names like Elon Musk.
- El Salvador was the first country to legalize crypto. Additionally, the government plans to establish a BTC mining facility with the power of a volcano. The country aims to introduce BTC education in schools by 2024.
The election of a Bitcoin-supporting candidate as president in Argentina has increased hopes in the Bitcoin community: What is El Salvador planning to do?
El Salvador is Planning to Meet with Argentina
The crypto world witnessed a new day with the victory of Javier Milei, a Bitcoin supporter and candidate, in the Argentina presidential elections, defeating his rival Sergio Massa. The country’s love for Bitcoin has become evident through its preferences.
Now the debate is whether Milei or other Latin American (LATAM) countries will take a historic step by declaring Bitcoin as legal tender. Since all eyes are currently on Argentina, other countries may follow suit. Max Keiser expressed his intention to focus on Bitcoin visits to Argentina. Keiser proposed talks with Milei to explore Bitcoin-related goals and invited the newly elected President to El Salvador for a dialogue on Bitcoin.
Milei openly criticized the country’s central bank, portraying it as a mechanism for deceptive inflation taxes, and sees Bitcoin as a way to return financial power to the private sector. This could signal a significant change towards the adoption of Bitcoin across Argentina and potentially indicate a national-level adoption of Bitcoin in Latin America.
Can Others Join to Make Bitcoin a Legal Payment Method?
El Salvador was the first country to legalize crypto. Additionally, the government plans to establish a BTC mining facility with the power of a volcano. The country aims to introduce BTC education in schools by 2024. Despite Milei’s pro-BTC stance, the future of crypto in the country is uncertain. Max Keiser advised Milei to consider BTC as a legal tender, implying that other countries could do the same. Does this sound like a call for a bull rally?
The election of Javier Milei as the new President of Argentina increased Bitcoin by more than 3%, surpassing $37,000. Milei gained a significant lead with over 55% of the votes, more than 3 million votes ahead, leading to bullish projections from figures like Max Keiser, potentially predicting a rally towards $40,000. The increased trading volume post-election indicates a positive market sentiment, currently hovering around $37,350, but the situation of Bitcoin being legally accepted in Argentina under Milei’s leadership remains uncertain.
If LATAM joins the legal payment method wagon for Bitcoin and prompts the SEC to consider it before others seize the largest industry and startup confidence, it will be interesting.
