Argentinian President Javier Milei reiterated his support for the use of Bitcoin (BTC) and other currencies in the national economy. Its vision is to promote free competition of currencies by allowing citizens to choose their preferred currencies. However, famous economist Max Keizer advises Milei to focus on Bitcoin and avoid Ethereum.
Javier Milei defends the use of Bitcoin and free money
Argentinian President Javier Milei has assured that his administration will allow free competition for currencies, including Bitcoin and other units such as West Texas Intermediate (WTI) and British Thermal Units (BTU). In this context, Milei said:
There will be free competition between currencies, so if you want to use Bitcoin there will be no problem. You can also use other units such as WTI, BTU and whatever works best for your business. More from an accounting perspective; It is solved by the functional currency method.
From a different perspective, Milei’s statement can be seen as inspired by the Nayib Bukele administration in El Salvador, which allowed the free circulation of Bitcoin. However, the situation in Argentina is slightly different from El Salvador. The country has been struggling with inflation from previous years and tax uncertainty associated with cryptocurrencies. Additionally, Argentina prefers stablecoins as a means of payment.
Max Keiser called out to Milei: Stay away from Ethereum!
Argentinian President Javier Milei expressed support for free competition of currencies, including Bitcoin. This announcement was received positively by many in the cryptocurrency community. However, Max Keizer, a well-known Bitcoin advocate and advisor to the president of El Salvador, advised Milei to be cautious about incorporating other cryptocurrencies such as Ethereum.
Keizer described ETH as a scam. He also warned that its inclusion could slow Argentina’s progress in the digital currency sector. While Milei’s endorsement of BTC is a positive step, it suggests that the president should reconsider his stance on supporting multiple cryptocurrencies. According to Keizer, many Bitcoin enthusiasts initially supported various digital currencies and eventually focused solely on BTC.
Max Keiser, Bitcoin, Argentina
This isn’t the first time Keiser has criticized Milei’s crypto policy. He previously expressed concerns about Milei’s decision to require all Bitcoin and crypto platforms in Argentina to be registered. He also argued that this approach could have negative repercussions due to a lack of in-depth understanding of Bitcoin’s unique features.
Despite these criticisms, President Milei remains committed to his vision of a free market where individuals and businesses can choose the currency they prefer. He believes that allowing the use of different currencies such as Bitcoin and Ethereum will encourage innovation and economic growth. cryptokoin.comAs you follow from , earlier this year Argentina took an important step by removing taxes on Bitcoin and other cryptocurrencies. It also signaled a shift to a more favorable regulatory environment for digital assets.
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