Pro-Crypto President Javier Milei Triumphs as His Party Wins Argentina’s Midterm Elections

Argentina has a new political victor — and this time, it’s a leader who has bet everything on free markets, Bitcoin, and rebellion against the system.

La Libertad Avanza, the party of President Javier Milei, known for his strong pro-crypto and libertarian stance, has won the midterm elections, solidifying his power at home and strengthening his influence abroad. According to the local outlet La Nacion, Milei’s party secured 40.68% of the vote with nearly all ballots counted, defeating the long-dominant Peronist party — even in Buenos Aires Province, a historical Peronist stronghold. This marks a sharp reversal from September’s local elections, when Milei’s movement suffered a heavy defeat in the same region. Since then, Argentina’s political landscape has shifted dramatically — fueled in part by a $20 billion currency swap with the United States, which tightened economic ties between Washington and Buenos Aires amid domestic uncertainty.

Cryptocurrency as a Symbol of Freedom Milei, a former economist and long-time advocate of market liberalization, is among the few global leaders who openly champion Bitcoin and other cryptocurrencies as tools of economic liberty. In December 2023, his administration legalized contracts settled in Bitcoin (BTC) and other digital assets, making Argentina one of Latin America’s most significant players in the emerging crypto economy. Milei famously stated that “Bitcoin returns money to its rightful owner — the people, not the state.”

The LIBRA Crypto Scandal: Fall and Redemption Despite his reformist image, Milei’s political journey was shaken earlier this year by the LIBRA token scandal, tied to Kelsier Ventures.

After Milei mentioned LIBRA in a social media post on X, the token’s market cap soared to $4.6 billion, only to collapse by 94% within hours. The incident triggered accusations of insider trading and market manipulation. Milei maintained that he merely “shared information” but did not promote the token. Following months of investigation, the Argentine Anti-Corruption Office cleared him of all charges, though the episode left a visible dent in public trust.

Public Trust Falls, but Milei Remains the Favorite According to data from the Zuban Córdoba polling agency, Milei’s approval rating fell from 47.3% in November to 41.6% in March, with recent October figures showing that 63.2% of Argentines now view him negatively. However, it’s worth noting that Zuban Córdoba is politically center-left and has been consistently critical of libertarian leaders.

Despite the drop, Milei remains the frontrunner for the October 2027 presidential election, which could cement his free-market revolution.

Argentina Between Freedom and Reality For Milei’s supporters, his midterm victory proves that a large share of Argentines still believe in radical reform, deregulation, and a crypto-driven future.

For his critics, it symbolizes dangerous volatility — a reflection of Bitcoin’s own unpredictable nature, which Milei has embraced as his political philosophy.

The nation now stands at a crossroads.

On one side: promises of lower inflation, privatization, and open markets.

On the other: economic hardship, debt, and a deeply divided society.

One thing is clear: Argentina has once again become a laboratory of freedom — this time, digital freedom.

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