I’ve heard a number of people call Javier Milei “pro-Bitcoin”, but I haven’t heard many details on exactly what “Pro-Bitcoin” means for him and Argentina.
Does anyone here have good primary source material where Javier Milei specifically mentions Bitcoin and the role it might play in Argentina moving forward?
Not interested in articles or tweets speculating on his Bitcoin plans, I really just want Javier’s views on Bitcoin in his own words (translated to English ideally).
quite good stance, imo
reply
He's spittin' fire! I'm excited for Argentina!
reply
nice, has he gone a step further and laid out a Bitcoin plan/strategy?
i guess one related question is whether he’s laid out a plan/strategy for abolishing the central bank?
reply
They are going to adopt the dollar. He’s been very clear on that. The Central Bank has no dollars, so it’s going to be tricky to pull off.
It took 9 months in Ecuador. Maybe they can get it done in 6. But he doesn’t take the reins until December 10th.
Practically nothing happens during ‘summer’ at this time, neither December or January when everyone hits the beaches. That can perhaps work to his benefit.
But once they have some stability to the country, maybe then they can consider an alternative model. And bring in private money, but I sense he’ll have bigger problems than doing that. There’s only so much he can achieve in his tenure don’t forget.
Adopting the dollar is going to stop that crazy inflation in its tracks, but it’s also going to cause havoc for all the free education, bus passes etc, and government employees out of work, not to mention raising money in international markets. Those people affected are going to be kicking and screaming. It’s not all sunshine and rainbows initially. Their economy has been sooo distorted for decades now. With so many peculiar side effects, like people’s sole job to be to check and enforce prices. Currency speculation and FX. I’m sure there are some Argentine’s that can share other peculiarities.
Definitely going to be very interesting to monitor. But don’t expect any movements towards Bitcoin I wouldn’t say. More likely the crypto dollar (or USDT).
reply
Exactly this!
reply
appreciate the perspective, can you share any links to Milei’s dollarization plans?
reply
Sure, I recommend this video link, with subtitles. YouTube (on long press on mobile) can translate them into your device language:
reply
awesome, thanks!
reply
It mentions the problem of securing dollar funds for the transition. What it doesn’t mention and what my head says could be possible is China having a part to play in this. Providing dollars for energy & agricultural concessions with repayment in Yuan.
reply
Great perspective
reply
"Adopting the dollar is going to stop that crazy inflation in its tracks" in Venezuela everybody uses USD and still there is hiperinflation, not sure if making USD legal tender will stop the inflation in Argentina.
reply
Most people (at a grass roots level) have done the same in Argentina. If they can get their hands on dollars. It has been a defence mechanism.
It’s different if the people use it as a SoV, versus the state itself repricing everything domestically in USD.
Argentina hasn’t had hyperinflation in real estate (priced in dollars) this past decade. If anything it’s experienced deflation in those assets.
Same I expect will be true for other products, when converted from pesos to dollars. Perhaps some moderate inflation, but nothing in comparison to what they have been dealing with.
reply
Planning to head back to BsAs in North American summer, assuming there's not some apocalypse. Will bring USDT this time and see how it greases the skids. Figuring out black market exchanges, and traveling with enough cash, was such a PITA back in the day.
Any Argentine stackers around? @IgnaciobTato, looks like maybe you're from there?
reply
Hope you feel comfortable using USDT on Tron for more than a few seconds 😅 that seems to be the norm right now.
reply
Have never done it, will have to figure it out. Not looking forward to it, it makes me feel dirty even thinking about it :(
my "conspiracy" theory ;) is that he didn't say a lot about Bitcoin just to increase his chances for election - because it would be surely utilised as a weapon against him (whether we like it or not)
but I remember some recent interview where he highlighted Nayib Bukele and El Salvador as the proper example how the things should look like, so I'm slight but optimist here :)
reply
He’s in! But time will tell if his actions speak louder than words!
reply
The main thing is that he's an austrian and understands economics and seems to be liberty minded. That's a huge step.
reply
Javier Milei is noted as pro-Bitcoin all over social media and everyone is excited about his victory in Argentina.
In reality, you won't find much, if anything, in his program regarding Bitcoin!
Javier Milei seems to be interested in Bitcoin which he mentioned during an interview:
“With legal tender, they scam you with the inflationary tax… Bitcoin is the natural reaction against central bank scammers; to make money private again.”
This allowed Javier Milei to gain popularity within the Bitcoin community.
Aside from this statement on Bitcoin, Javier Milei is best known for being anti-central bank and pro-dollar. He even talks about restoring the American dollar as the official currency in Argentina.
This does not mean that in the future he will not move towards a Bitcoin Standard in Argentina, but as it stands, the excitement about the potential impacts of his victory for Bitcoin is disproportionate.
Don't Trust, Verify.
It will be necessary to verify in the exercise of power if Javier Milei is really who he claims to be and if this will benefit the Argentines!
reply
Just heard the speech. It is the first Libertarian President in the history of Minkind more or less. Never expected to be here in Argentina.
Don't forget that Satoshi said that Bitcoin was going to be loved by Libertarians.
Bitcoin won't be imposed nor forbidden. It will be free traded!
reply
Don’t forget to read this book, The Market For Liberty, given it shaped how Milei views government.
reply
He is a self-proclaimed libertarian economist that has appeared on various talk shows during his presidential campaign, advocating for the benefits of Bitcoin and cryptocurrency.
reply
Some speculation for you: (Based on what I've seen online and random other #facts)
El Salvador was already dollarized with no central bank of it's own. It started a step further down the road than Argentina is, and had no central bank to fight bitcoin.
If Milei tried to run his campaign on a promise of replacing the central bank with Bitcoin he would have gotten much more pushback, maybe a few bullets to the head, and still it would have been unrealistic to think so much could transform in 1 presidency.
This way, removing the central bank first by dollarizing, then going to bitcoin next, is the best way forward for Argentina. Maybe he can produce some state-sanctioned bitcoin mines & stack a few sats for the treasury long before any major BTC adoption push.
reply
WEF is conttolling both "sides"...
The system is rigged.
The only way forward is to fuck'em" all
reply
That's point.
reply
Unpopular fact for the “progressive bitcoiners” =
THE ONLY JUST ROLE OF THE STATE IS THE PROTECTION OF PRIVATE PROPERTY.
This means NON-interventionism. We don’t need “politician bitcoiners”
We need LIBERTY.
We need to let the people be FREE- and then they will choose to use good money.
reply
We shouldn’t care. Never trust politicians!
reply
its an OP,
himself cant explain bitcoin properly.
He is not pro bitcoin.. Check his official program.. He is pro dollar for sure..
Also, and yet to be confirmed, seams Luis Toto Caputo is the new Finance Minister.. The man responsible for the last FMI scam... Heavly linked to Macri.. Its all a fucking scam
reply
deleted by author
reply
I just hope all these is not speculation.
reply
The real question is, will he have the will and political capital to introduce a dual-currency system (USD + Bitcoin) when abolishing the Peso (which he very much intends to).
Will be an interesting economic study, if nothing else, unfortunately at the expense of the wonderful people of Argentina.
reply
Nothing....he only says what people want to hear, that someone will save them.....He is a politicians like any other...
reply