Pro Bitcoin (And Dollar) Candidate Javier Milei Sweeps Presidential Election in Argentina

Polls turned strongly toward fringe economic candidate for President Javier Milei in the waning hours of Argentina’s fierce Presidential election. Milei reportedly wants to phase out Argentina’s central bank altogether, instead allowing businesses and citizens to transact locally in US dollars — and surprising to some — Bitcoin currency.

Milei’s pro cryptocurrency and US dollar message was greeted by voters in Argentina exhausted by his country’s recent annual triple digit percentage inflation rate, and growing unemployment. More traditional candidates were shunned by voters at the last minute.

As many Bitcoin proponents are pointing out on social media this evening, this would be the second pro Bitcoin candidate to win a Presidency in Central/South America. El Salvador President Nayib Bukele made his country the first to accept Bitcoin as a legal tender, encouraging restaurants and other tourism-facing businesses to experiment with the system.

Fed Pauses Interest Rate Hikes For Now In Apparent Boon For Bitcoin and Alternative Assets

 
 

As of the 11/1/2023 Fed meeting, the central bank has declined to further raise interest rates and is extending its rate hike pause, although it is open to doing so in the future if economic winds necessitate such a move.

As explained on today’s TikTok update — although not financial advice or expert counsel of any kind — this rate ceiling may move investors’ interest, and money, back into alternative assets such as Bitcoin, silver, and gold.

Israel-Hamas War Intensifies, With 1000s Now Dead, Including American Hostages

Things intensified quickly in the Middle East, with the US also deploying warships and an aircraft carrier group to the region to police against any further injustices. Curiously, amateur radar watchers spotted an aircraft of some kind moving at an incredible Mach 14 while holding a 70,000 ft altitude over Europe, roughly in the direction of Israel. Some have speculated it is a next generation American spy plane of some kind, although this has not been confirmed yet.

—FULCRUM Research