What is Dejavu? We all remember when Rishi SUNAK came to power in the United Kingdom and similar things were discussed. However, there are some differences between Javier and Rishi. Although Rishi is not a crypto enemy and even takes a moderate approach, there are fewer things he can do alone compared to Javier.
Argentina’s New Crypto-Friendly President
Rishi took over the United Kingdom a long time ago in a way that excited cryptocurrency investors. However, HSBC continues to cause problems for cryptocurrency platforms in the UK. Other banks are doing the same. Okay, no one expected the UK to become the second El Salvador, but we were far from the idea that nothing would change after Sunak’s arrival.
But the situation may be different for Argentina. In the United Kingdom, loyalty to state policies and the independence of institutions is important, and a change in the president does not mean a 180-degree change in policy. However, Argentina is more flexible in this regard, and perhaps that’s why inflation is at a painful level. So if Javier is going to adopt a moderate strategy centered on crypto, he has the power to implement it in his country. Just like he can dissolve many ministries.
Who is Javier Mile?
The new president, born in 1970, has had higher education in economics and has taught macroeconomics, economic growth, microeconomics, and mathematics for economists with the title of professor. He has written many books and entered politics in 2021.
He experienced hyperinflation in his childhood and decided to specialize in economics after ending his football career at the age of 18.
Milei competed against the Economy Minister in the current coalition government and received 56% of the vote against Sergio Massa. The new president’s most important problem is the inflationary local currency, and he plans to eliminate the central bank as a solution. His goal is to transition the country to the US dollar as the currency.
It is a fact that he is pro-Bitcoin and describes it as the “restitution of money.” While strongly opposing the central bank, Milei described the Argentine central bank as “one of the biggest frauds in our country’s history” and claimed that it deceived the people through “inflationary tax.” He argued that Bitcoin is a “natural reaction against central bank fraudsters.”
Although he is known for his pro-Bitcoin stance, his promised policies do not include it. Unlike El Salvador, Milei focuses his attention on the dollarization of the Argentine economy until 2025 in order to stop the “inflation cancer.”
