Javier Milei’s crypto-friendly party wins Argentine midterm

Argentine President Javier Milei’s crypto-friendly party has won the midterm election, positioning him as a leading contender for the October 2027 presidential race and bolstering his continued push for free-market policies.

Milei’s La Libertad Avanza party obtained 40.68% of nearly 99% of votes counted to secure the victory over the Peronist party, according to local news outlet La Nacion. That included a win in the Buenos Aires province, which has historically favored the Peronist party.

The results flip the script from September, when Milei’s party lost the Buenos Aires provincial election to the Peronist party in a lopsided outcome. Perhaps the most notable development since then has been Argentina’s $20 billion currency swap with the US — strengthening economic ties with one of its biggest allies despite domestic uncertainty.

While the Peronist party remains a congressional majority, the result affirms that Milei will again be a frontrunner in Argentina’s next presidential election in October 2027.

As a former economist, Milei has focused much of his efforts on enabling free markets, reducing inflation, and pushing for less state intervention.