FX.co ★ BTC surges after Javier Milei wins Argentine presidency

According to cryptocurrency exchange CoinGecko, on Monday, November 20, the value of Bitcoin in Argentina soared to record highs. This surge in the leading cryptocurrency came following the election of Javier Milei as President of Argentina. Argentina's new leader is positive about Bitcoin, and it seems the feeling is mutual. The flagship digital asset responded with a notable increase as if trying to support its admirer. During trading on CoinGecko, Bitcoin's value approached a historic high against the Argentine peso. On that Monday, the cryptocurrency reached an impressive 13.23 million pesos, jumping by 2.6% in a day. Notably, the all-time high stands at 13.37 million pesos. The media described Milei as “a chainsaw-wielding libertarian and economist,” hinting at his blunt statements. Previously, this extravagant politician threatened to disband the country's central bank to control rampant inflation. Meanwhile, it is anticipated that Milei's tenure will bring prosperity to Argentina. However, only Bitcoin seems to be optimistic now, but other changes could be on the horizon. Javier Milei, a far-right politician from the opposition libertarian Freedom Advances coalition, won the presidential election's second round with 55.72% of the votes. Economists view Milei's stance as extremely populist. He supports dollarization of the national economy, and privatization, including in education and healthcare, and refuses to collaborate with China, Brazil, and Russia. However, he is willing to support the US and Israel. Milei also expressed negative views about Argentina joining BRICS.