Pro-bitcoin president-elect Javier Milei has announced plans to dissolve the Central Bank of Argentina to combat the country’s economic crisis and inflationary pressures.
Milei will abolish the Central Bank of Argentina
In a press release Posted by the Office of President Javier Milei on X (formerly Twitter), the administration stated that all official information regarding Milei’s future government decisions would be communicated exclusively through its X channel.
“The elected Presidency of the Argentine Republic communicates that the only official information about the future government, headed by Javier Milei, is that published by this channel,” the statement says.
The publication also officially denied recent rumors about the fate of the Central Bank of Argentina. According to the statement, The elected president of Argentina has considered the elimination of the Central Bank a non-negotiable issue.
“In response to false rumors, we want to clarify that the closure of the Central Bank of the Argentine Republic (BCRA) is not a negotiable matter,” the publication states.
In early May of this year, Argentina’s central bank raised its reference interest rate by six percentage points to 97% in an attempt to address the country’s skyrocketing inflation. Argentina’s inflation this year has also accelerated to almost 143%.
Milei’s plans to dissolve the country’s Central Bank and potentially implement a dollarization program are a testament to his visions for the country’s economic recovery. bitcoin/argentina-pro-bitcoin-president/” rel=”nofollow noopener” target=”_blank”>The pro-bitcoin president has promised to combat inflationary challenges in Argentina and transform the country into a stronger nation.
Milei’s support for bitcoin sparks heated discussions
Javier Milei’s public support for bitcoin in Argentina has been a central point of discussion since his victory in the Argentine presidential election.
The pro-bitcoin libertarian He has been a strong supporter of btc long before being elected President of Argentina. Following his successful election, there have been rumors about the introduction of bitcoin as official legal tender in Argentina. However, no verified report has emerged confirming these developments.
Due to the support of Milei bitcoinThe adoption of cryptocurrency has grown considerably in the country. The growth of btc in the Argentine markets It also coincides with the constant devaluation of the country’s currency, which has plummeted almost 99% since the beginning of the currency crisis in 2018.
Many cryptocurrency enthusiasts have expressed their perspectives on the potential effects of dollarization or the introduction of bitcoin into the Argentine financial system.
A member of the crypto community has declared that ‘bitcoinizing’ rather than ‘dollarizing’ Argentina could elevate it to one of the richest countries. Other members have fixed that bitcoin could significantly improve Argentina’s economy than the International Monetary Fund (IMF).
<img decoding="async" class="aligncenter size-medium" src="https://technicalterrence.com/wp-content/uploads/2023/11/Pro-Bitcoin-President-Milei-Wants-to-Dissolve-the-Argentine-Central-Bank" alt="bitcoin price chart from Tradingview.com (Central Bank of Argentina President Javier Milei)” width=”2650″ height=”1530″/>
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