“I am not an expert” – Javier Milei pleads ignorance in the face of the cryptocurrency scandal Libra

Javier Milei speaks on the scandal of Libra cryptocurrency

On February 14th, Javier Milei promoted a cryptocurrency called Libra on his x accountexploding its course. But cryptocurrency collapsed quickly in the hours that followed, losing up to 95 % of its value. The Argentinian president immediately detached from the project, explaining that he “was not aware of the details of the project ”.

It is a justification deemed insufficient for a head of state, who put Javier Milei in great difficulties. The scandal swallowed in Argentina, aa point to lead to a call for dismissal from the opposition. As a reminder, the Argentinian president is already targeted by numerous legal actions, in particular for fraud, negotiations incompatible with the public service and manipulation of prices.

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Faced with this, Javier Milei spoke for the first time in a television interview which was reported by Bloomberg. The Argentinian president pleads ignorance, explaining that his specialty did not lie in cryptocurrencies ::

“”I am not an expert. My specialty is economic growth, with or without money. As a person who is a great enthusiastic about new technologies, I saw the possibility of a financing tool for entrepreneurs projects and I shared it.»»

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The government backtrack in the hope of stifling the scandal

The American president also said that only “4 or 5“Argentines had really lost money, and that the majority of investors who have undergone the fall in prices were “Chinese and American “.

Javier Milei also explained that he met the teams that launched the Libra before promoting it, but it is not possible to check these statements. He also said that he wanted to meet all the people who could help Argentina get out of its disastrous economic situationbut that he understood that he could no longer do it:

“”The most important lesson that I have drawn is that I can no longer be the same Javier Milei. Unfortunately, I have to put more filters so that it is no longer so easy to contact me. »»

Populist Javier Milei, who presents himself as a man of the people, Access to the Argentine presidency, in particular by promising an economic recovery. For this, he adopted unusual measures which are reflected in particular in his promotion of Libra.

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The Minister of the Economy also releases the oars

The Minister of Economy Luis Caputo also came to the rescue of the Argentinian presidentbelieving that cryptocurrencies were not so important:

“”Cryptocurrencies are a very small, infinitesimal, world. It is a world of specialists that it is difficult to understand. I also do not understand cryptocurrencies and yet we tried to explain it to me 800,000 times.»»

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Not sure that it is enough to alleviate the scandal. On Monday, the Buenos Aires Stock Exchange fell clearly, while calls for dismissal continued to be shared.

Journalist at Cryptoast since 2017, I have been passionate about the challenges of decentralization, privacy and regulation. I specialized in the economy and traditional finance by analyzing how the news in this sector influence that of cryptocurrencies, thus offering a unique and enlightened perspective to cryptoast readers.

Marine Debellor

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