Argentina’s Minister of Foreign Affairs, Diana Mondina, has confirmed that contracts in the country can now be settled in Bitcoin. Indeed, the development occurred after newly elected president Javier Milei took office in November of this year. The regime change has brought a host of changes to the struggling economy.
Milei has been outspoken in his radical ideas regarding the country’s economic circumstances. Over his first few weeks in office, the pro-Bitcoin candidate has already sought to dollarize the Latin American peso. Now, he has officially allowed Bitcoin to factor into contractual agreements.
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Argentina Allows Contract Settlements in Bitcoin
Over the past year, the Argentinian economy has struggled mightily. Along with massively high inflation at over 140%, the citizens of the nation sought a new direction. Subsequently, they opted to follow the regime of unconstitutional candidate Javier Milei—a pro-Bitcoin candidate who is already implementing major changes.
Specifically, Argentina’s Minister of Foreign Affairs, Diana Mondina, took to X (formerly Twitter) to confirm that contracts in the country can now be settled in Bitcoin. Indeed, Mondina confirmed the landmark development in the first few weeks of Milei’s presidential term.
Also Read: BRICS: Argentina Peso to Devalue More Than 50% Under Milei
Milei’s election was always perceived to have massive implications for the most prominent digital asset. Immediately after the election results were finalized, the asset noted an increase of almost 3%. Now, it appears as though optimism is paying off with Bitcoin-related policy changes.
The newly elected president has expressed his view of Bitcoin as a game-changer for the Argentinian economy. Ultimately, the digital asset represents a key aspect of his political focus, opposing the Central Bank and traditional financial institutions. The presence of Bitcoin in his early decision could foreshadow what is to come from his presidential term.
