{"id":34899,"date":"2023-07-12T23:17:17","date_gmt":"2023-07-13T03:17:17","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/argentine-politician-tells-rival-bin-usd-for-btc\/"},"modified":"2023-07-12T23:17:19","modified_gmt":"2023-07-13T03:17:19","slug":"argentine-politician-tells-rival-bin-usd-for-btc","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=34899","title":{"rendered":"Argentine Politician Tells Rival: Bin USD for BTC"},"content":{"rendered":"
\n

A prominent Argentine lawyer has told a leading presidential candidate to bin his dollarization plans in favor of a Bitcoin (BTC) adoption drive.<\/p>\n

The comments were directed at Javier Milei, a right-wing political leader who has been described as a populist by some commentators.<\/p>\n

Milei has previously spoken out in favor of Bitcoin, and was last year embroiled in a crypto-related controversy.<\/p>\n

But one of Milei\u2019s most notable manifesto pledges includes a two-and-a-half-year plan to dollarize the Argentine economy, which has been devastated by years of hyperinflation.<\/p>\n

<\/oembed><\/figure>\n

Milei is not the only politician in the nation to call for dollarization, but has arguably become the most vociferous advocate of USD adoption.<\/p>\n

And his plan has drawn the ire of Carlos Maslat\u00f3n, a notable lawyer-turned-politician and BTC advocate.<\/p>\n

Maslat\u00f3n wrote on Twitter<\/a> that Milei\u2019s dollarization plans were a \u201cjoke,\u201d and explained:<\/p>\n

\n

\u201cThe dollar was and is imposed by force. It […] expands at the will of the North American state, without limit or criteria. The only voluntary currency in circulation is Bitcoin, which I have been talking to you about since 2013. But you could never understand [BTC], as you are pro-paper money.\u201d<\/p>\n<\/blockquote>\n

Maslat\u00f3n hoped to run for president as part of the La Libertad Avanza alliance, but failed in his bid to win party approval.<\/p>\n

Recent opinion polls have Milei with a support rate of around 18%, some 10% behind the front-running candidate Sergio Massa, Reuters reported.<\/p>\n

Maslat\u00f3n\u2019s comments drew no shortage of replies, with one prominent observer<\/a> commenting that Argentina should launch an \u201cinnovative\u201d gold-back cryptoasset, and adding:<\/p>\n

\n

\u201cInflation belongs to a bygone era.\u201d<\/p>\n<\/blockquote>\n

Argentina Set for Fiat Versus Bitcoin Battle?<\/h2>\n

The lawyer was replying to USD-related comments from Milei, who had taken aim at the fiat peso.<\/p>\n

Milei claimed that the peso\u2019s status as legal tender \u201cfavors political [thieves].\u201d<\/p>\n

A growing number of Argentine politicians have spoken out in favor of BTC adoption of late, including Martin Tetaz, a lawmaker for the city of Buenos Aires.<\/p>\n

In May, Tetaz suggested that citizens keep their savings in BTC, rather than USD or pesos.<\/p>\n

<\/oembed><\/figure>\n

Buenos Aires has been attempting to secure a new IMF loan, a fact that appears to have driven the government to fast-track crypto regulations amid a fast rise in popular crypto adoption.<\/p>\n<\/p><\/div>\n