Argentinian President Javier Milei Expresses Support for Free Competition of Currencies, Including Bitcoin

Argentinian President Javier Milei recently expressed his support for the free competition of currencies, including Bitcoin BTC/USD, in an X post Wednesday.

Argentinian President Paves Way For Bitcoin Integration as Legal Tender

Argentian President Javier Milei expressed his support for the free competition of currencies, including Bitcoin (CRYPTO: BTC), in an X post Wednesday.

What Happened: Milei, known for his pro-Bitcoin stance, was responding to a pleasantry by Gabor Gurbacs — a cryptocurrency analyst who was previously employed with VanEck — who said, “Bitcoin a todos,” meaning “Bitcoin to everyone.”

Milei replied in Spanish, translating to “There will be free competition of currencies so if you want to use Bitcoin there will be no problems.”

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The pro-Bitcoin crowd cheered the comment, with Gurbacs appreciating the support lent by Milei and El Salvador President Nayib Bulekele for free markets and Bitcoin. He added, “The world has much to learn from the modern economic blueprint in Central and South America, with Argentina and El Salvador leading.”

The interactions come as both Argentina and El Salvador continue to pave the way for Bitcoin integration within their respective legal frameworks.

While El Salvador adopted Bitcoin as legal tender in September 2021, Argentina appears to be taking a more measured approach. In December 2022, a bill was introduced in the Argentinian Chamber of Deputies that, if passed, would designate Bitcoin as a form of payment throughout the country.

However, recent reports suggest that the bill may face delays due to a packed legislative agenda and competing priorities. Despite the setback, Milei’s public support for Bitcoin could serve to bolster its legal integration in Argentina.

Why It Matters: A libertarian economist, Milei has been vocal about his plans to stabilize the country's economy through fiscal austerity and a shift away from money printing.

The president has pushed for the adoption of digital currencies as a potential solution to the country’s economic woes. In the past, he praised the scarcity-driven growth model of Bitcoin and dubbed the asset a way to return monetary power to people.

Milei’s interactions with tech leaders like Elon Musk have also attracted significant interest. Musk posted a picture with the President with the caption, “”I recommend investing in Argentina,” when the two met on the sidelines of the 27th annual Milken Institute Global Conference last month.

Price Action: At the time of writing, Bitcoin was exchanging hands at $65,094.44, following a 0.25% drop in the last 24 hours, according to data from Benzinga Pro.

News source：https://www.kdj.com/cryptocurrencies-news/articles/argentinian-president-javier-milei-expresses-support-free-competition-currencies-including-bitcoin.html

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