Javier Milei Trails in Argentina’s Presidential Run-off Race

In the Argentine presidential election, pro-Bitcoin candidate Javier Milei did not win in the first round, so there will be a run-off vote on November 19. 

The current results with over 90% of the vote counted show that economy minister Sergio Massa is leading with over 36%, while Milei has just over 30% of the vote. To win outright, a candidate needed 45% of the vote or 40% with a 10-point lead.

This result is unexpected as Milei, initially the frontrunner due to his primary election success, is an anarcho-capitalist advocating for a smaller government, central bank abolition, and a shift to the U.S. dollar, akin to El Salvador’s Bitcoin strategy.

Massa, in contrast, plans to create a digital currency to combat inflation and is against adopting the U.S. dollar. The election occurs as Argentina faces poverty, a debt crisis, and high inflation, with the run-off set for November 19 to decide the presidency.

The Argentine presidential runoff on November 19 reflects a surprising shift, as pro-Bitcoin candidate Milei’s setback highlights the nation’s diverse economic ideologies, making the outcome pivotal for addressing Argentina’s pressing economic challenges.

Also Read: BTC Apikes in Argentina After Pro-Bitcoin Javier Milei’s Win