Will Argentina Elect a Pro-Bitcoin President This year?

Paigambar Mohan Raj
Source: Inventiva

The Latin American country of Argentina will elect a new president in October 2023. One of the running candidates is Javier Gerardo Milei, who is an outspoken supporter of Bitcoin (BTC).

In a recent interview, Milei was asked if it was possible to talk about Bitcoin (BTC) as a form of payment in Argentina. According to Milei, Bitcoin represents the return of money to the private sector. Milei acknowledged that BTC has an algorithm and a limited supply. The politician added that BTC has a chance of competing with other currencies.

Moreover, the Argentine presidential candidate did not have any kind words for central banks. He stated,

“The Central Bank is a scam. It is a mechanism by which politicians cheat the good people with the inflationary tax.”

Governments and central banks do not want to give up legal tender, according to Milei. This is so that they “can scam (citizens) with inflationary tax.” However, Bitcoin is a “natural reaction” to central banks, according to the candidate. He noted that countries with higher inflation have a more significant “scam problem.”

According to an AmericaElects poll conducted in October 2022, Milei will probably serve as the leader of the La Libertad Avanza alliance and has the backing of 24% of those surveyed.

Crypto and Bitcoin see more adoption in Ukraine

Amid continuous conflict, pharmacies in Ukraine are accepting digital payments such as Bitcoin. ANC Pharmacy, one of the largest pharmacies in Ukraine, has partnered with Binance to make crypto payments a reality.

The drugstore business has its online pharmacy service and manages more than 1000 locations across Ukraine. The announcement states that Kyiv would see the initial launch with Binance Pay payments. ANC Pharmacy-operated stores in Kopiyka and Shara will also accept the new payment option soon.

The Russia-Ukraine conflict has seen significant use of cryptocurrencies. Massive donations were made to Ukraine using crypto, while Russia also began using digital assets to escape western sanctions.