After the election of the new president on the night of 11/19/2023, the price of Bitcoin in relation to the Argentine peso almost reached the all-time high (which amounts to 13.37 million).

Javier Milei, the newly elected, is a strong supporter of the most prestigious of cryptocurrencies and his simple election led Bitcoin to rise by over 2% within a few hours, reaching 13.2 million Argentine Pesos.
Over the past 24 hours, Bitcoin has also seen an increase of 1.5% in US dollar terms.

In the past, Milei himself spoke out in favor of Bitcoin, publicly declaring that he was the real monetary alternative and defining the central bank as a real scam.

However, unlike Bukele of El Salvador who legalized Bitcoin as fiat money, Milei seems not to be leaning towards its adoption, but rather towards replacing the Argentine central bank and thedollarisation of the economy.

Bitcoin, for him, has the possibility of returning control over money to the private sector, counteracting alleged deceptions by the central bank.
Regardless of its future choices, Argentina marked by economic instability has seen growing interest in cryptocurrencies as a means of hedging against inflation and has paved the way for more crypto-friendly policies, strengthening its position as one of the most Crypto-friendly nations in the world.