Bitcoin

Revolution

<p>Argentina takes a giant step towards crypto adoption. President Javier Milei, a fervent advocate of economic liberalism, proposes a monetary revolution by opening wide the doors to Bitcoin.&nbsp;</p>
<h2 id="h-argentina-opens-the-way-to-bitcoin">Argentina opens the way to Bitcoin</h2>
<p><a href="https://www.cointribune.com/en/javier-milei-massively-devalues-the-peso/" target="_blank" rel="noopener noreferrer nofollow">Javier Milei</a>, a libertarian economist elected at the end of 2023, does not hide his enthusiasm for Bitcoin.&nbsp;</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1">
 </div>
</div>
<p>During an exchange on X (formerly Twitter), he <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39404161/argentina-president-javier-milei-makes-passionate-pitch-for-currency-competition-if-you-wa?utm_source=cryptopanic.com&amp;utm_campaign=partner_feed&amp;utm_medium=partner_feed&amp;utm_content=site" target="_blank" rel="noopener noreferrer nofollow">declared</a>: “<em>There will be a free competition of currencies, so if you wish to use Bitcoin, there will be no problem</em>.” This stance radically contrasts with the traditional approach of central banks.</p>
<p>Milei’s approach is not limited to Bitcoin. He envisions an ecosystem where various units of value coexist, notably mentioning the WTI and the BTU. This openness could thus offer Argentine companies unprecedented flexibility in their transactions.</p>
<p>The Argentine president sees Bitcoin as a potential solution to the country’s chronic economic difficulties. He particularly praised Bitcoin’s growth model based on scarcity, calling it a means to “return monetary power to the people.”</p>
<p>This vision is part of his broader strategy aimed at stabilizing the economy through budgetary austerity and abandoning excessive money printing.</p>
<div class="affiliate-button"><a class="affiliate-button__link" href="https://bitvavo.com/fr/affiliate/coinmedia?a=_cta" target="_blank" rel="noopener noreferrer nofollow">€20 bonus for registering on Bitvavo</a> <a class="affiliate-button__disclaimer" href="https://www.cointribune.com/en/sponsored-content/" target="_blank" rel="noopener noreferrer nofollow">This link uses an affiliate program.</a>
</div>
<h2 id="h-towards-a-monetary-revolution-in-latin-america">Towards a monetary revolution in Latin America?</h2>
<p>Javier Milei does not just talk: his government recently introduced a <a href="https://www.cointribune.com/en/argentina-will-eliminate-taxes-on-crypto-assets/" target="_blank" rel="noopener noreferrer nofollow">bill</a> removing the tax declaration obligations for cryptos.&nbsp;</p>
<p>Argentina’s openness to cryptos is part of a broader movement in Latin America. The country has notably started discussions with El Salvador, a pioneer in adopting Bitcoin as legal tender.&nbsp;</p>
<p>Indeed, this collaboration between Buenos Aires and San Salvador goes beyond mere experience sharing. Some observers see it as the beginnings of a more radical ambition: to make Bitcoin a new common currency capable of competing with the dollar and traditional currencies in the region.</p>
<p>Milei’s approach arouses interest well beyond Argentina’s borders. Elon Musk, CEO of Tesla and an iconic figure in tech, recently showed his support by publicly recommending investing in Argentina after a <a href="https://www.cointribune.com/en/when-elon-musk-meets-the-pro-bitcoin-president-is-argentina-on-the-brink-of-a-revolution/" target="_blank" rel="noopener noreferrer nofollow">meeting</a> with the president.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="2">
 </div>
</div>
<p>In sum, Milei’s bold vision of monetary freedom could well reshape Argentina’s economic landscape and inspire other nations in search of <a href="https://www.cointribune.com/en/87-of-bitcoin-holders-are-in-profit-despite-the-drop/" target="_blank" rel="noopener noreferrer nofollow">innovative monetary alternatives</a>.</p>

Javier Milei Launches Bitcoin Revolution in Argentina

Table of Contents

Cointribune EN

Other articles published on Jun 21, 2024

Binance Completes Tether (USDT) Integration on TON Blockchain

BitFlyer Holdings Poised to Acquire FTX Japan Amid Bankruptcy Proceedings

Italy Considers $5.4M in Penalties for Crypto Insider Trading

New Meme Coin Pepe Unchained Bursts Onto Scene With $200K Presale Raise

W3GG to Launch Exclusive Private Token Sale for Community Members on July 1st

Pyth ploys DeFi lending overhaul with Morpho, Gauntlet partnership

Join our free newsletter for daily crypto updates!