Argentine President Javier Milei recently expressed support for free competition of currencies, including Bitcoin.
Gabor Gurbacs, former Director of Digital Asset Strategy at VanEck, posted to X: “Bitcoin for everyone.”
Responding to this tweet in Spanish, Milei said: “There will be free competition between currencies so if you want to use Bitcoin there will be no problem.”
Habrá libre competencia de monedas así es que si querés usar el Bitcoin no habrá problemas… y también podrás usar otras unidades como el WTI, BTU y la que te resulte mas acorde en tu negocio…
Es mas contablemente se resuelve por el medo de moneda funcional…— Javier Milei (@JMilei) June 19, 2024
Argentina is currently struggling with inflation and tax uncertainty related to cryptocurrencies. In addition, Argentine people especially like it prefer stablecoins as a means of payment.
In December 2023, the Minister of Foreign Affairs, International Trade confirmed that the government would allow Bitcoin contracts.
Previously, the President praised Bitcoin’s scarcity-based growth model and called the asset a way to return the power of money to the people.
Milei’s interactions with technology leaders such as Elon Musk also attracted considerable attention. Musk posted a photo with the President of Argentina with the caption: “I recommend investing in Argentina.”
Argentina takes a big step towards Bitcoin after Elon Musk proposed investing in the country
