Surprise primary election brings bitcoin record in Argentina

Surprise primary election brings bitcoin record in Argentina

Interest in bitcoin has also increased after a pro-Bitcoin candidate won a pre-election ahead of the general election in Argentina in October.

The unexpected victory of Javier Miley, who suggested shutting down the central bank and using the US dollar as the country’s official currency instead of the Argentine peso, has enabled the largest cryptocurrency to reach a new peak.

Miley’s win was followed by 8.4 million pesos worth of bitcoin in Argentine pesos. The price of bitcoin in local currency has increased by 188% since the beginning of the year…

Inflation continues to rise

Argentina, which is one of the countries where inflation has increased the most in recent years after Venezuela, has increased by 63% in the last 1 year and the inflation rate has reached 116%. In a country where unemployment and minimum wage workers are increasing day by day, the victory of an unexpected candidate even in primary elections is understood as a reaction of the people.

In his speech after the election, Miley said, “It will not be possible to achieve a different Argentina from previous unsuccessful attempts.”

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