It was announced late Sunday night that Javier Milei, known for his favorable stance on Bitcoin, has been declared the winner of Argentina's presidential election. 

Milei achieved a significant victory in the presidential election, surpassing his opponent Sergio Massa by a margin of approximately 2.9 million votes. His inauguration is scheduled for December 10th, 2023, marking the start of his term in office.

Although Milei has not proposed adopting Bitcoin as legal tender or including BTC in reserve assets, he does intend to replace the Argentine peso with the U.S. dollar. 

Last Monday, Argentina's hyperinflation escalated to 143%, exacerbating the country's financial crisis and emphasizing the urgency for economic reform.

The newly elected president of Argentina has openly criticized central banking, labeling it as a fraudulent mechanism that allows politicians to deceive citizens through inflationary taxes. 

He also shared his views on Bitcoin, describing it as a return of monetary control to its original place in the private sector. He stated that Bitcoin weakens the ability of politicians to indirectly seize wealth from the public through inflationary measures.

On X, Bitcoiners are buzzing with excitement over Milei's election victory, seeing it as a potential boost for adoption and a step towards greater individual sovereignty. 

Milei's election as Argentina's president represents a potential turning point in the country's economic policy, with implications for both national financial stability and the broader Bitcoin industry.

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