Former CoinDesk and Genesis Trading Head of Research Noelle Acheson Releases Crypto Is Macro Now Newsletter. As part of it, she expressed her opinion about the new President of Argentina, Javier Miley, and his economic policy. According to the analyst, many are mistaken if they believe that the Bitcoin cryptocurrency (BTC) will be accepted as a legal means of payment in this country.
The specialist noted that she was happy about Miley’s victory. She believes that “Argentina needs profound change and looks forward to the results of radical economic experiments.”. However, according to the expert, there is no sign that the Bitcoin cryptocurrency will become part of the plan of the newly elected head of state.
Acheson noted that Miley rarely spoke publicly about digital currencies unless he received a direct question about them.. According to the researcher, the politician supports an anti-system spirit. “Miley cannot afford to irritate the IMF, which no one likes the idea of Bitcoin. Last year, the Argentine Senate passed a $45 billion loan on the condition that it would discourage the use of cryptocurrencies in the country.”
According to Acheson, the positive thing is that Miley is unlikely to try to stop the growing interest in Bitcoin in the country. In addition, the ban on the provision of crypto services by banks may be lifted.
Earlier this year, the local financial securities regulator approved the launch of derivatives crypto products. BTC owners were very interested in this. The fact is that the value of the Argentine peso has fallen relative to the price of the flagship cryptocurrency by about 5 times over the past year.
According to the expert, BTC will definitely not become Argentina’s currency standard. According to data as of the evening of November 20, 2023, the value of the Bitcoin cryptocurrency was at $37,630. Market capitalization increased to $735.71 billion.