Javier Milei’s Crypto-Friendly Party Wins Argentina’s Elections

• La Libertad Avanza won the midterm elections with more than 40% of the vote.
• The success strengthens President Milei’s position ahead of the 2027 elections.
• Despite the scandal surrounding the Libra token, the anti-corruption body acquitted Milei.

Argentine President Javier Milei’s La Libertad Avanza party won the midterm elections with 40.68% of the vote. This consolidated the politician’s lead and made him the main favorite for the upcoming 2027 presidential election.

According to La Nacion news agency, the party’s success was largely due to its victory in Buenos Aires province, which has traditionally supported the Peronists. The election results were a turning point after Miley’s September defeat at the regional level.

Politically, the victory reinforced the course of deregulating the economy, cutting government spending and developing free markets, experts said. His party actively promotes the use of digital currencies and has pushed for the legalization of contracts in bitcoin and other crypto-assets in December 2023.

Argentina’s economic successes have been backed by a $20 billion currency swap with the U.S. This has strengthened foreign economic ties and partially stabilized the country’s financial system, experts said.

Nevertheless, Milei’s reputation came under pressure after the LIBRA token scandal. In February 2025, the token rose to a market capitalization of $4.6 billion after it was published on social network X (formerly Twitter), but soon collapsed by 94%, prompting accusations of market manipulation.

The president denied personal interest, claiming he was only “sharing the news.” The anti-corruption body later fully cleared him of the charges, but the incident has left a mark on public perception.

According to Zuban Córdoba polls, Milei’s approval rate dropped from 47 percent in November to 41 percent in March, while the percentage of negative evaluations rose to 63 percent. At the same time, observers note that these data come from a center-left agency critical of his policies.