Because of the enormous significance of Javier Milei’s surprise presidential election victory in Argentina, I reckoned it would be worthwhile to bring in a few additional local experts to help explore the potential bitcoin and crypto implications of this seismic event.
Daniel Rybnik is the co-founder of ONG Bitcoin Argentina, a non-profit advocacy group, and is one of the OGs of the country’s bitcoin community.
Julian Colombo is the CEO of Bitso Argentina. Bitso is among the largest and longest-running exchanges in Latin America with more than 7 million customers
Themes we discuss in this conversation:
the sentiment of the Argentine population after the peso lost 70% of its value over the last 10 months
how crypto adoption in the country has surged because the government has failed to maintain a strong currency, and how this became an issue that ultimately bridged the political divide
the roadblocks that Milei will face when implementing his agenda, given that he has no prior public sector experience and is lacking congressional support
why some of Milei’s more extreme campaign promises (like firing 50% of government employees and abolishing the central bank) will be difficult to enact, but radical changes could indeed come within the first 2-3 months of his administration
why restrictions on the use and sale of cryptocurrency will likely be lifted under the Milei administration - opening the door for more adoption by both retail and institutional players
why the best thing Milei can do for crypto and bitcoin is to not focus on crypto regulation but rather work on lifting barriers and obstacles to growing the economy more broadly
why Argentina’s bitcoin community is highly enthusiastic about a Milei presidency
Have a great week everyone,