Argentina’s President Javier Millei’s pro-crypto party won midterm elections, positioning him as a leading candidate for the October 2027 presidential election and reinforcing its continued push for free market policies.
According to local news outlet La Nacion, Millay’s La Libertad Avanza party won 40.68% of the 99% vote count, securing victory over Peron. This included a victory in the province of Buenos Aires, which historically favored Peron.
This result reverses the situation in September, when Millay’s party lost to the Peronist party in a lopsided election in the Buenos Aires province. Perhaps the most notable development since then is Argentina’s $20 billion currency swap with the United States, strengthening economic ties with one of its biggest allies despite domestic uncertainty.
Although the Peronist party maintains a parliamentary majority, this result confirms that Millay will again be the front-runner in Argentina’s next presidential election in October 2027.
As a former economist, Mr. Millais has focused much of his efforts on promoting free markets, lowering inflation, and reducing state intervention.
He played a role in legalizing contracts settled in Bitcoin (BTC) and other cryptocurrencies in December 2023.
Millay’s involvement in the Libra scandal has caused a loss of public trust.
However, his work on crypto policy has been overshadowed by his role in February’s LIBRA token corruption scandal.
Launched by Kelsier Ventures CEO Hayden Davis, the LIBRA token soared to a $4.6 billion market cap on Mirei’s controversial X post, before plummeting 94% within hours, sparking allegations of insider trading and market manipulation.
Related: BCP becomes first Peruvian bank to offer regulated crypto access
Millais said she had “spread the word” about the LIBRA token in her controversial X post, but insisted she had not promoted it.
Argentina’s corruption watchdog later cleared Millay of any wrongdoing.
Opinion polls show Millais is still viewed negatively
In light of the cryptocurrency scandal, Millay’s image fell from 47.3% in November to 41.6% in March, according to data from Argentine polling platform Zubán Córdoba.
According to October data from the centre-left pollster, 63.2% of Argentines now have a negative image of Millay, a significant increase of more than 21 points since March. However, it should be noted that Zubán Córdoba is broadly critical of far-right and liberal policies.
Magazine: The Mysterious Mr. Nakamoto Author: Finding Satoshi Will Damage Bitcoin
