We’re taking a break from our normally Brazil-focused content to focus on the Argentina presidential elections that shook both the world and the crypto community last week.
To help us understand libertarian candidate Javier Milei’s surprise victory in last weekend’s election and the implications for bitcoin, Ripio CEO Sebastian Serrano joined the show to share his thoughts.
As you are surely aware, the bitcoin community loudly welcomed Milei’s ascendence, including luminaries like Michael Saylor and Balaji Srinivasan.
While Milei’s victory is undoubtedly a good thing for bitcoin, there’s a lot more nuance than the homerists on X/Twitter would have you believe. Serrano argues that Milei isn’t a “bitcoiner” or even “pro bitcoin” necessarily, but rather that his staunch free market principles highly align with the core ethos of the bitcoin community.
Some key topics we address in this conversation:
how Argentina, which was once one of the world's richest economies, ended up in a state of hyperinflation and perpetual monetary crises
why Milei is likely to foster conditions that give Argentines the freedom to choose whichever currencies or assets they wish to use, including bitcoin and stablecoins.
why it seems likely that Milei will eliminate restrictions that currently prohibit banks and fintechs from offering cryptocurrency services to consumers.
why Sebastian believes that Milei has significant privacy concerns regarding the usage of any digital currency
how tax and regulatory burdens around cryptocurrency could be eased under a Milei administration.
how full dollarization of the economy may limit incentives to use bitcoin as a store of value versus stable dollar currency.
Have a great week everyone,