Pro-Bitcoin Candidate Javier Milei Heads to Run-off in Argentina’s Presidential Elections
Argentina’s far-right and pro-Bitcoin (BTC) candidate, Javier Milei has failed to clinch victory in the first round of voting trailing biggest rival and Economic Minister Sergio Massa.
After 97% of votes cast counted on Sunday, Massa won the first round with 36.6% of votes while Milei trailed in second with 30% of the total 26.3 million votes cast in the polls.
Patricia Bullrich, a former security minister came up third in the first round with 23.8% of the votes.
Most Milei supporters expected him to win outright in the same fashion as Brazil’s Bolsonaro in 2018 with his radical economic policies and views of inflation and the central bank’s fiscal policies.
According to the electoral law, a candidate must score 45% of votes or 40% of votes with a 10-point lead over the second candidate to clinch victory in the first round. Massa and Milei will participate in the runoff election on November 19.
Many observers especially around crypto circles described the results as a little unexpected because Milei won the most votes in the primary elections, placing him as the front-runner leading up to the polls.
Amidst other issues gaining the attention of both candidates in the race to the polls, the country’s economy remained on top as it suffered from triple-digit inflation.
Milei, an anti-central bank candidate, viewed the issue as stemming from several factors including the size of the government, corrupt officials, and the central bank.
Referring to the central bank as a scam and fiat as a means for government corruption, he plans to abolish the country’s top bank and move along with the U.S. dollar against the country’s peso.
On the other hand, Massa the Economy Minister criticized Milei’s views on the central bank and dollarization
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