The Bitcoin price is surging and nearing its all-time high in Argentina following the victory of Bitcoin-friendly Javier Milei in the presidential election run-off on November 19.
Assets lost value as the Argentine peso (ARS) also fell after Javier Milei, an anti-establishment candidate, won the top spot in the country’s election.
However, according to data from Coinmarketcap, the price of Bitcoin has increased over 25% since the past month, which marked an all-time high of ARS 13.4 million on November 16. It is currently trading at nearly ARS 13 million.
Javier Milei, who is known for his Bitcoin maximalist profile, has won the second round of the presidential election in Argentina. He has called the central bank a scam against people while urging them to utilize Bitcoin in payment applications.