Benzinga - Bitcoin (CRYPTO: BTC) enthusiast and Argentine presidential candidate Javier Milei is trailing the country’s presidential election heads to a run-off. Despite being a favorite, Milei has failed to secure a victory in the first round.
According to a CoinTelegraph report, with 90% of the vote counted, economy minister Sergio Massa leads with over 36% support, while Milei lags with just over 30% of the vote. The run-off vote is scheduled for Nov. 19.
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Milei, who won the most votes in the country’s primary election in August, is an anarcho-capitalist advocating to reduce government size and abolish Argentina’s central bank. He plans to replace the Argentinian peso with the U.S. dollar, similar to Bitcoin-friendly El Salvador.
On the contrary, Massa intends to launch a central bank digital currency (CBDC) if elected, to address Argentina’s persistent inflation crisis, rejecting the idea of dollar adoption.
The run-off vote takes place amidst increasing poverty and a mounting debt crisis in Argentina. The candidate who wins the most votes in the run-off will be the president for the next four years.
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