Argentina’s President Javier Milei Advocates Bitcoin, Calls For Currency Competition
Argentine President Javier Milei disclosed on June 19 his intent to double down on his pro-crypto stance as he expressed support for an open competitive market for currencies, including Bitcoin.
In a tweet responding to a comment about making “Bitcoin for everyone” a reality, President Milei specifically stated that there’d be open market participation for Bitcoin alongside other known units of transaction in Argentina.
Milei’s endorsement of Bitcoin comes amid his efforts to rescue Argentina’s struggling economy since assuming office in December 2023.
The president is a long-time crypto advocate who has praised Bitcoin’s scarcity-driven monetary system as empowering for citizens.
His latest comments resonated with the Bitcoin community, with notable figures like former VanEck executive Gabor Gurbacs expressing support. Gurbacs highlighted the novel economic approaches in Central and South America, particularly in Argentina and El Salvador, as a valuable model from which the world can learn.
The work that Presidents @JMilei and @nayibbukele are doing on free markets, Bitcoin as well as local safety and prosperity is commendable. The world has much to learn from the modern economic blueprint in Central and South America, with Argentina and El Salvador leading. https://t.co/f1AAIu0OE9
— Gabor Gurbacs (@gaborgurbacs) June 19, 2024
Argentina is expediting its crypto adoption, engaging in high-level talks with El Salvador to learn from its experience of using Bitcoin as a legal tender.
In the same vein, Maya Parbhoe, a Suriname presidential candidate, promises an El Salvador style of Bitcoin adoption If elected. She said her goal would be to replace the Surinamese dollar with Bitcoin.
Despite Javier Milei’s enthusiasm about Bitcoin,
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