{"id":68095,"date":"2023-10-03T02:37:09","date_gmt":"2023-10-03T06:37:09","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/argentina-pres-candidates-clash-on-btc-usd-cbdc\/"},"modified":"2023-10-03T02:37:12","modified_gmt":"2023-10-03T06:37:12","slug":"argentina-pres-candidates-clash-on-btc-usd-cbdc","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=68095","title":{"rendered":"Argentina Pres Candidates Clash on BTC, USD & CBDC"},"content":{"rendered":"
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A leading Argentinian presidential candidate says he will launch a CBDC if he is elected \u2013 putting him on a collision course with a pro-Bitcoin dollarization advocate.<\/p>\n

According to the media outlet Ambito, Sergio Massa, the country\u2019s current Minister of Economy and a candidate for this month\u2019s elections, called for the creation of a digital peso during a live debate.<\/p>\n

He said:<\/p>\n

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\u201cWe are going to launch the Argentine digital currency. We are going to do it \u2013 globally \u2013 for all of Argentina.\u201d<\/p>\n<\/blockquote>\n

The peso has been battered by prolonged hyperinflation that has dragged the economy into a quagmire.<\/p>\n

Massa\u2019s main opponent is the pro-BTC populist Javier Milei.<\/p>\n

Per the Buenos Aires Times, Milei\u2019s support stands at 34%, with Massa at 29%.<\/p>\n

In August\u2019s primaries, Massa gathered 27% of the vote, with Milei winning with 30.5%.<\/p>\n

Experts claim Milei and Massa will face a run-off vote following October 22\u2019s election.<\/p>\n

Unlike the Economy Minister, Milei proposes scrapping the peso and dollarizing the Argentine economy.<\/p>\n

Will Argentina Adopt USD, BTC, or a CBDC?<\/h2>\n

Massa claimed Milei has succumbed to \u201cthe temptation of the dollar.\u201d<\/p>\n

The minister urged voters:<\/p>\n

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\u201cBe patriotic, defend our currency, and do not promote the use of the dollar!\u201d<\/p>\n<\/blockquote>\n

Massa added:<\/p>\n

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\u201cMilei proposes a dollarization model that only three countries in the world have adopted thus far: Zimbabwe, El Salvador, and Ecuador.\u201d<\/p>\n<\/blockquote>\n

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Milei has claimed that the peso has become a vehicle for government corruption.<\/p>\n

His manifesto contains outlines of a plan to remove the peso from the economy and fully adopt the US fiat by 2025-2026.<\/p>\n

Political rivals have called dollarization a \u201cjoke,\u201d and have urged him to consider an El Salvador-style adoption of Bitcoin.<\/p>\n

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In August, Bitcoiners were joyed to see Milei appear on live TV to destroy a Central Bank-shaped pi\u00f1ata.<\/p>\n<\/p><\/div>\n