beincrypto.com
With Argentina’s national election only 30 days away on October 22, Javier Milei, the pro-Bitcoin candidate from Argentina, maintains a strong lead in the voting polls.
“Most of those who have decided to support Milei believe they will do so because of his economic program, considering it the only way to pull the country out of the severe crisis it faces,” a recent report stated.
Javier Milei’s Proposal to Close Argentina’s Central Bank
According to a recent report, all polls in Argentina show that Javier Milei, who is a political outsider, leads by 31% to 34%, ahead of his closest rivals by over five points.
Milei is a libertarian and an advocate for eliminating the central bank. His choice in pushing for Bitcoin adoption in Argentina, has proven to be a popular choice for Argentinians.
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The report notes that the cost of living has risen dramatically in Argentina. It has seen a 124.4% increase in the past year and 80.2% so far this year.
Reportedly, Argentinians strongly desire the next president to introduce decisive and effective policies. They hope this will halt the swift erosion of their purchasing power.
Bitcoin Skyrockets Against Argentinian Pesos
Milei is an economist by profession and has gained national recognition as a TV economic analyst. He performed well in the August primary election, surpassing traditional parties. Since then, he has gained slightly more ground than the other two candidates.
On August 14, BeInCrypto reported that Bitcoin prices reached an all-time high in Argentina as inflation continues to soar in the economy.
Bitcoin reached its highest-ever price in terms of Argentinian Pesos, topping 8.4 million ARS for one BTC.
Since then, the price has risen even further. At the time of publication, 1 BTC is approximately 9.3 million ARS.
On May 4, Argentina’s central bank prohibited payment providers from allowing crypto transactions.