Bitcoin News Today: Argentina's Economic Turmoil Fuels Crypto Surge Amid Milei's Landslide Win

Javier Milei's libertarian La Libertad Avanza party secured a decisive victory in Argentina's midterm elections, capturing 40.68% of the vote and solidifying the president's push for free-market reforms, including crypto-friendly policies, according to a Cointelegraph report. The win, reported by La Nación, marks a reversal from September's Buenos Aires provincial election, where Milei's party faced a lopsided defeat. The victory positions him as a frontrunner for the October 2027 presidential race, despite lingering challenges from the Peronist party's congressional majority.

The election results coincide with a surge in Bitcoin (BTC) prices, which gained 1.74% to $110,862.37 on the CoinDesk Bitcoin Price Index, marking the largest three-day rally since early October 2025, according to a TradingView report. This upward trend aligns with Argentina's growing crypto adoption, driven by economic instability and the peso's continued weakness. As the country grapples with inflation and currency devaluation, Argentines have increasingly turned to cryptocurrencies and stablecoins as a hedge, according to crypto.news. Platforms like Coinbase and Binance now operate under licenses in Argentina, and regulators have permitted foreign crypto products into the market.

Milei's pro-crypto agenda includes legalizing Bitcoin-based contracts and reducing state intervention in markets. However, his economic vision faces scrutiny following the February 2025 Libra (LIBRA) token scandal, which saw the token plummet 94% after a controversial X post from Milei. While Argentina's anti-corruption watchdog cleared him of wrongdoing, public trust in the president has eroded. Polls from Zuban Córdoba show his favorability dropped to 41.6% in March, with 63.2% of Argentines viewing him negatively.

The midterm win could bolster Milei's efforts to deepen economic ties with the U.S., including a recent $20 billion currency swap agreement. Yet, his pro-crypto stance remains intertwined with broader challenges, such as inflation and political polarization. As stablecoin usage gains traction, experts like local stockbroker López argue that crypto offers a "refuge from the national currency," reflecting Argentina's complex relationship with digital assets.