Contracts in Bitcoin: Milei’s promise to the crypto world

Contracts in Bitcoin: Milei’s promise to the crypto world
Contracts in Bitcoin: Milei’s promise to the crypto world

Javier Milei’s victory caused a profound impact on the financial markets, but also in a particular sector of the Argentine economy: the crypto industry. The main leaders in Argentina welcomed the election of the libertarian leader and predicted a positive impact for digital currencies. They even remembered the promise of Foreign Minister Diana Mondino, who two weeks ago stated that her Government will allow contracts to be signed in Bitcoin.

“The proposal has always been and will be freedom of currencies. “Whoever wants to make a contract in Bitcoin, let him do it”assured at that time Mondino, a representative of La Libertad Avanza.

In an industry where freedom, decentralization and deregulation are central philosophical elements, crypto leaders celebrate the arrival of Milei to the Casa Rosada. “The next few years are going to be challenging and exciting. I’m excited to think how We are going to innovate from the local industry to build products with crypto in a scenario of free currency competition or eventual dollarization“said Marcelo Cavazzoli, co-founder and CEO of Lemon.

“Both Milei and those who are supposed to be his officials have always referred to the fact of freedom in the fintech industry in general and in the crypto industry in particular. They have had good words regarding the philosophy of Bitcoin and the freedom it gives people,” said Julin Colombo, CEO of Bitso.

In relation to the possibility of making contracts in Bitcoin, Colombo believes that it is positive that “cryptocurrencies are recognized as valid instruments to make contracts between people, as means of payment and that they are allowed.”

Meanwhile, Cavazzoli believes that “peso problems” were an advantage in multiplying the adoption of cryptocurrencies, “one of the most important technologies in history.” This phenomenon could have been recorded last weekend, when The operation of stablecoins, digital currencies tied to the dollar, was 75% higher than during the peak recorded in the PASO.

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