Pro-Bitcoin (btc) Presidential candidate Javier Milei failed to secure victory in the first round of the Argentine presidential election and will now face his rivals in a second round on November 19.
October 23, election results provided by Bloomberg shows with more than 90% of the votes counted: Economy Minister Sergio Massa was in the lead with more than 36% support, while Milei was behind with just over 30% of the votes.
Presidential hopefuls needed 45% of the vote or 40% with a lead of 10 percentage points to win the presidency.
The result could be seen as unexpected since Milei won the most votes in the country's presidential primary elections in August, obtaining around 30% of the vote, which initially placed him as the favorite for the presidency.
Milei calls himself an anarcho-capitalist and has spoken out to reduce the size of the government and abolish Argentina's central bank, claiming it is a scam. She also plans to ditch the Argentine peso for the US dollar, reflecting the Bitcoin-friendly El Salvador.
Milei's Liberty Advances (La Libertad Avanza) coalition has been described like any point between libertarian and far-right populist.
Related: Bitcoin Soars in Argentina as Javier Milei Wins Presidential Primary
He has He also called Bitcoin a reaction against “Central bank scammers” and claimed fiat currency allow politicians to scam Argentines with inflation.
Massa, for his part, has promised to launch a central bank digital currency (CBDC) if chosen to “solve” Argentina's prolonged inflation crisis and has crushed the idea of adopting the dollar.
The cost comes among 40% of Argentines versus poverty and fatigue of the country mounting Debt crisis. Annual inflation is also closure by 140%.
Argentina will go to the polls again on November 19. The candidate with the most votes will win the presidency for a four-year term.
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