{"id":349770,"date":"2023-08-14T14:00:48","date_gmt":"2023-08-14T13:00:48","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=349770"},"modified":"2023-08-14T13:17:30","modified_gmt":"2023-08-14T12:17:30","slug":"pro-btc-candidate-triumph-drives-bitcoin-to-historic-high-against-argentinian-peso","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/pro-btc-candidate-triumph-drives-bitcoin-to-historic-high-against-argentinian-peso\/","title":{"rendered":"Pro-BTC candidate triumph sees Bitcoin reach historic high against Argentinian peso"},"content":{"rendered":"<p>Bitcoin's (<a href=\"https:\/\/cryptoslate.com\/coins\/bitcoin\/\">BTC<\/a>) price soared to an all-time high against the Argentinian Peso after a pro-BTC candidate, Javier Milei, won the country's primary presidential race.<\/p>\n<h2><span class=\"s4\"><span class=\"bumpedFont15\">Pro-Bitcoin candidate emerges<\/span><\/span><\/h2>\n<p>Earlier today,\u00a0Milei, a staunch critic of central banks, recorded an unexpected primary win in the presidential elections.<\/p>\n<p>The election <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-08-14\/outsider-milei-leads-argentina-s-primary-with-strong-showing\">results<\/a> show that Milei polled 30.1% of the votes, ahead of the other candidates from Together for Change and the ruling Peronist bloc, who got 28.3% and 27.2% of the votes, respectively.<\/p>\n<p>Milei's unexpected triumph is seen as a rejection of Argentina's entrenched political establishment. The pro-BTC candidate became anti-establishment after proposing the <a href=\"https:\/\/cryptoslate.com\/market-reports\/de-dollarization-do-all-roads-eventually-lead-to-bitcoin\/\">dollarization<\/a> of the economy and called for the abolishment of the central bank due to the country's economic woes.<\/p>\n<p>Poverty levels in Argentina are at a record high, and its inflation rate is the world's third-highest, according to <a href=\"https:\/\/www.economist.com\/the-americas\/2023\/06\/22\/annual-inflation-of-114-is-pushing-argentina-to-the-right\">The Economist<\/a>.<\/p>\n<p>Meanwhile, with no presidential aspirants reaching the constitutionally required 45% threshold, the nation is poised for a general election in October. Subsequently, a conclusive runoff will be held in November if a definitive winner remains undetermined.<\/p>\n<h2 class=\"s5\"><span class=\"s4\"><span class=\"bumpedFont15\">BTC soar to ATH against ARS<\/span><\/span><\/h2>\n<p><a href=\"https:\/\/twitter.com\/KaikoData\/status\/1690997226615533568\">Data<\/a> from the blockchain analytical firm Kaiko showed that BTC's value soared to an all-time high of more than 8.4 million Argentina pesos following Milei's shock victory. The digital asset has risen by around 240% on the year-to-date metric against the South American country's national currency.<\/p>\n<figure id=\"attachment_349791\" aria-describedby=\"caption-attachment-349791\" style=\"width: 900px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-349791\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/08\/F3eg5ebWAAAMGK1.jpg\" alt=\"Bitcoin Argentina\" width=\"900\" height=\"491\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/08\/F3eg5ebWAAAMGK1.jpg 900w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/08\/F3eg5ebWAAAMGK1-300x164.jpg 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/08\/F3eg5ebWAAAMGK1-768x419.jpg 768w\" sizes=\"(max-width: 900px) 100vw, 900px\" \/><figcaption id=\"caption-attachment-349791\" class=\"wp-caption-text\">Source: Kaiko<\/figcaption><\/figure>\n<p>Meanwhile, the increase is not in isolation as Bitcoin's value has surged by more than 140% against the Turkish Lira and Russian Ruble, respectively. Kaiko described the countries as the &#8220;three weakest emerging markets.&#8221;<\/p>\n<p>A GWI <a href=\"https:\/\/cryptoslate.com\/crypto-ownership-in-turkey-argentina-and-philippines-surges-as-inflation-skyrockets\/\">research<\/a> revealed that citizens in struggling economies like Turkey and Argentina turn to crypto to hedge against their country's rising inflation.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin&#8217;s (BTC) price soared to an all-time high against the Argentinian Peso after a pro-BTC candidate, Javier Milei, won the country&#8217;s primary presidential race. Pro-Bitcoin candidate emerges Earlier today,\u00a0Milei, a staunch critic of central banks, recorded an unexpected primary win in the presidential elections. The election results show that Milei polled 30.1% of the votes, [&hellip;]<\/p>\n","protected":false},"author":720,"featured_media":349779,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Pro-BTC candidate triumph sees Bitcoin reach historic high against Argentinian peso<\/title>\n<meta name=\"description\" content=\"Bitcoin&#039;s value has soared to an all-time high against Argentina Peso after a pro-crypto candidate emerged a surprising winner.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/pro-btc-candidate-triumph-drives-bitcoin-to-historic-high-against-argentinian-peso\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pro-BTC candidate triumph sees Bitcoin reach historic high against Argentinian peso\" \/>\n<meta property=\"og:description\" content=\"Bitcoin&#039;s value has soared to an all-time high against Argentina Peso after a pro-crypto candidate emerged a surprising winner.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/pro-btc-candidate-triumph-drives-bitcoin-to-historic-high-against-argentinian-peso\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-14T13:00:48+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-14T12:17:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/08\/bitcoin-argentina.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Oluwapelumi Adejumo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Oluwapelumi Adejumo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/pro-btc-candidate-triumph-drives-bitcoin-to-historic-high-against-argentinian-peso\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/pro-btc-candidate-triumph-drives-bitcoin-to-historic-high-against-argentinian-peso\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#person\",\"name\":\"Oluwapelumi Adejumo\",\"url\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"caption\":\"Oluwapelumi Adejumo\"},\"jobTitle\":\"Senior Reporter\",\"description\":\"Oluwapelumi values Bitcoin's potential. 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