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Argentina’s Pro-Bitcoin Candidate Javier Milei Leads Presidential Polls by a Landslide

2 mins
Updated by Kyle Baird
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In Brief

  • Javier Milei leads Argentina's election polls, with many supporting his economic program to fix the country's crisis.
  • Milei advocates for eliminating the central bank and promoting Bitcoin adoption, a popular choice among Argentinians.
  • Citizens hope the next president will introduce policies to halt the swift erosion of their purchasing power.
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With Argentina’s national election only 30 days away on October 22, Javier Milei, the pro-Bitcoin candidate from Argentina, maintains a strong lead in the voting polls.

“Most of those who have decided to support Milei believe they will do so because of his economic program, considering it the only way to pull the country out of the severe crisis it faces,” a recent report stated.

Javier Milei’s Proposal To Close Argentina’s Central Bank

According to a recent report, polls in Argentina show that Javier Milei, who is a political outsider, leads by 31% to 34%, ahead of his closest rivals by over five points.

Argentina Election Candidates Poll.Javier Milei. Source:Perfil
Election Candidates Poll. Source:Perfil

Milei, a libertarian and staunch advocate for eliminating the central bank, has garnered significant popularity among Argentinians with his push for Bitcoin adoption in the country.

The report notes that the cost of living has risen dramatically in Argentina. It has seen a 124.4% increase in the past year and 80.2% so far this year. 

Reportedly, Argentinians strongly desire the next president to introduce decisive and effective policies. They hope this will halt the swift erosion of their purchasing power.

Bitcoin Skyrockets Against Argentinian Pesos

Milei is an economist by profession and has gained national recognition as a TV economic analyst. He performed well in the August primary election, surpassing traditional parties. Since then, he has gained slightly more ground than the other two candidates.

On August 14, BeInCrypto reported that Bitcoin prices reached an all-time high in Argentina as inflation continues to soar in the economy.

Bitcoin Price Chart 1 Month. Source: BeInCrypto
Bitcoin Price Chart 1 Month. Source: BeInCrypto

Bitcoin reached its highest-ever price in terms of Argentinian Pesos, topping 8.4 million ARS for one BTC.

Since then, the price has risen even further. At the time of publication, 1 BTC is approximately 9.3 million ARS.

On May 4, Argentina’s central bank prohibited payment providers from allowing crypto transactions.

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Ciaran Lyons
Ciaran is a cryptocurrency journalist based in Sydney, Australia. He particularly enjoys writing about CBDC developments and the practical implementations of cryptocurrency in real-world scenarios. He has also appeared across major television networks in Australia including Channel Ten, Channel Nine and SBS TV. Prior to his foray into cryptocurrency, Ciaran worked as a presenter on national radio station Triple J.
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