Right-Wing Populist Javier Milei Wins Argentina’s Presidential Elections

The self-described anarcho-capitalist and a supporter of Bitcoin, Javier Milei has won Argentina’s presidential elections in provisional results.

With 97.6% of votes tallied in Sunday’s presidential runoff vote, Milei had 55.8% and Economy Minister Sergio Massa 44.2%, according to Argentina’s electoral authority. Presuming that margin holds, it would be wider than predicted by all polls and the widest since Argentina’s return of democracy in 1983.

Milei’s rival Sergio Massa conceded the run-off vote on Sunday evening in a brief speech even before official results were announced. “Milei is the president elected for the next 4 years,” said Massa, adding that he had already called Milei to congratulate him.

Milei — a TV panelist who only became a politician two years ago when he became a congressman — promises to turn the establishment upside down. Shouting “long live freedom, dammit” and armed with a chainsaw, during his campaign he called for the extermination of “the political caste,” which he blames for the perpetual economic crisis that is devastating Argentina.

Milei campaigned on reducing the size and reach of the national government, by closing the Education and Health ministries and progressively eliminating social welfare programs. In view of Sunday’s results, it’s clear that Milei broke the reluctance of even those Argentines who, since the return to democracy in 1983, have defended the role of an entrepreneurial and welfare state, whether it be a Peronist, radical or even liberal state, such as Macri’s. In Argentina, health and education at all levels is public and free.

“Argentina’s situation is critical. The changes our country needs are drastic. There is no room for gradualism, no room for lukewarm measures,” Milei told supporters in his victory speech.

He also said that the “reconstruction of Argentina begins today.”

Most pre-election polls, which have been notoriously wrong at every step of this year’s campaign, showed a statistical tie between the two candidates or Milei slightly ahead.

Milei’s victory also effected bitcoin (BTC) as it began rising late Sunday afternoon on chatter about a strong showing for Milei. Following Massa’s concession, the crypto currently is higher by nearly 3% over the past 24 hours to $37,350.

Milei to this point, however, has not gone as far as proposing making bitcoin legal tender. He’s instead calling to eliminate the country’s central bank and dollarizing an Argentine economy that’s been walloped by inflation that reached 142% in October.

Milei’s votes came primarily from the middle and lower classes, especially among young people. Fed up with the recurrent economic crises, voters born in democracy embraced the ideas of the ultra candidate and his promise to tear everything down and start anew.

He won 21 of the country’s 24 electoral districts, including Córdoba, Santa Fe and Mendoza, the second-largest providence after Buenos Aires.

Milei will take office on December 10, when Peronist Alberto Fernández’s term ends.