Milei, Ponzi schemes and the central bank
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Milei and his coalition, La Libertad Avanza, raked in over 30% of the votes, beating second-place contender, the center-right coalition, Juntos Por El Cambio, by slightly less than a 2% margin.
He told Decrypt that it’s not necessarily because of Bitcoin, but rather “a different mindset,” and someone who will “stir up the hen.”
Not all is rosy in Milei’s connection to cryptocurrency, however.
Milei denied any wrongdoing, claiming the company did the same as a bank does.
What he’s mainly known for is his unabated bashing of the country’s central bank.
Argentina currently suffers from rampant inflation, clocking in at 135% this year.
Although the country’s Central Bank made anti-crypto moves through a recent ban on digital wallets, not much has changed in the burgeoning crypto scene, which according to Chainalysis, ranks Argentina’s crypto adoption at 13th worldwide.
While some in the crypto space are hopeful Milei might push for an El Salvador-style Bitcoin standard, or other similar pro-crypto measures, the eccentric presidential hopeful might not be so willing.
Last month, for example, he announced his intentions to “dollarize” the Argentine economy.