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Javier Milei, a pro-Bitcoin candidate, has emerged victorious in Argentina’s presidential run-off election. With over 99% of the votes counted, Milei has secured over 55% of the votes, giving him a lead of over 3 million votes. His opponent, Sergio Massa, conceded defeat after 90% of the votes had been counted. Milei, who has been critical of Argentina’s central bank, is set to take office on December 10th. The election was largely influenced by the country’s inflation crisis, with the Argentine Peso experiencing a 140% increase in annual inflation over the past year. Additionally, nearly 40% of the population lives in poverty, and the economy is expected to contract further. Massa, in contrast to Milei, had pledged to launch a central bank digital currency (CBDC) to address the inflation crisis. Following the news of Milei’s victory, Bitcoin experienced a 3% increase in value, reaching $37,350. Milei has expressed strong support for Bitcoin, viewing it as a means to return money to the private sector.