Argentina’s Central Bank Shutdown is Non-Negotiable Says Pro-Bitcoin Government

After years of rampant inflation, Argentina’s newly elected government aims to privatize money creation.

Newly elected Argentine President Javier Milei has confirmed his commitment to shutting down the nation’s central bank, Banco Central de la República Argentina (BCRA), despite rumors that he may back down from this campaign pledge.

“Regarding the false rumors being spread, we wish to clarify that the closure of the Central Bank of the Republic of Argentina (BCRA) is not a negotiable matter,” confirmed the Office of President Milei in a statement posted today on Twitter.

pic.twitter.com/O7WEAjYdKY

— Oficina del Presidente Javier Milei (@OPEArg) November 24, 2023

Milei has been a vocal critic of central banks, describing them as a “scam” and a tool for politicians to impose an “inflationary tax” on the public. He has vowed to eliminate the BCRA and replace the Argentine peso with the US dollar.


The outspoken leader has also expressed enthusiastic support for Bitcoin, stating that it represents “the return of money to its original creator, the private sector.” He contrasts Bitcoin’s finite supply with the inflationary tendencies of government-issued fiat currencies.

Milei formally takes office as Argentina’s next president on December 10, 2023.

Following Milei’s upset presidential victory this week, Bitcoin prices in Argentina skyrocketed to all-time highs as investors welcomed his anti-central bank and pro-crypto rhetoric.

Argentina has been struggling with high inflation for several years, which has put immense pressure on the government and the economy. The country’s annual inflation rate reached 124.4% in September 2023.

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.