In a bold move reflecting his pro-crypto stance, President Javier Milei announced his support for free competition of currencies, including Bitcoin. His endorsement came through a social media post on June 19, where he highlighted the freedom for businesses to choose their preferred currency.
According to BeInCrypto, this initiative aligns Argentina with El Salvador’s pioneering efforts in adopting Bitcoin, suggesting a potential shift in Argentina’s economic strategy to incorporate cryptocurrencies as a tool for financial stabilization and growth.
Javier Milei recently weighed in on Bitcoin with a response to former VanEck executive Gabor Gurbacs, who said "Bitcoin a todos," which translates to "Bitcoin for everyone."
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Milei responded in Spanish, saying: "There'll be free competition of currencies, so if you want to use Bitcoin, there'll be no problems. You can also use other assets like WTI, BTU, and whatever's best for your business. In accounting terms, it's solved by the functional currency method."
Milei’s announcement follows his broader economic reforms aimed at rescuing Argentina’s faltering economy. While he has not officially adopted Bitcoin as legal tender, Milei’s administration is reportedly collaborating with El Salvador to develop a Bitcoin adoption plan.
The Bitcoin community has lauded Milei’s stance, viewing it as a significant step toward broader acceptance and integration of cryptocurrencies.
Since taking office last November, Milei has been focused on addressing Argentina’s economic challenges. This move has also garnered attention from key industry players, including Cardano founder Charles Hoskinson, signaling potential increased investment and technological advancement within the country.
As Argentina navigates its economic recovery, Milei’s pro-Bitcoin stance presents a forward-thinking approach that could reshape the country's financial landscape.
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