Quick Breakdown
- La Libertad Avanza wins Argentina’s midterm elections with 40.68% of votes, overtaking the Peronist party.
- Milei’s crypto policies, including legal Bitcoin settlements, strengthen his 2027 presidential ambitions.
- LIBRA token scandal and falling approval ratings remain challenges for Milei’s image.
Milei’s party clinches midterm victory
Argentina’s President Javier Milei has tightened his political grip after his crypto-friendly party, La Libertad Avanza, won the nation’s midterm elections — a result that positions him as a strong contender for the October 2027 presidential race.
With 40.68% of votes counted from nearly all polling stations, La Libertad Avanza defeated the long-dominant Peronist party, according to La Nacion. Notably, the win includes the Buenos Aires province, a Peronist stronghold that flipped in Milei’s favour.
Gracias Presidente @realDonaldTrump por confiar en el pueblo argentino. Usted es un gran amigo de la República Argentina. Nuestras Naciones nunca debieron dejar de ser aliadas. Nuestros pueblos quieren vivir en libertad. Cuente conmigo para dar la batalla por la civilización… pic.twitter.com/G4APcYIA2i
— Javier Milei (@JMilei) October 27, 2025
The turnaround follows a September defeat in the same province, reflecting shifting public sentiment amid Argentina’s fragile economy. Analysts say the victory also reflects the government’s strengthening ties with the U.S., marked by a $20 billion currency swap deal earlier this year.
Push for free-market and crypto reforms
A former economist and staunch free-market advocate, Milei has focused on reducing inflation and cutting state intervention. In December 2023, he played a key role in legalizing contracts settled in Bitcoin (BTC) and other cryptocurrencies, reinforcing Argentina’s position as one of Latin America’s most crypto-progressive nations.
Despite his policy wins, Milei’s credibility took a hit after his involvement in the LIBRA token scandal earlier this year. The controversy erupted when the LIBRA token, issued by Kelsier Ventures CEO Hayden Davis, surged to a $4.6 billion market cap following a mention from Milei on X. The token later crashed by 94%, sparking allegations of insider trading and manipulation.
Milei denied promoting the token, claiming he only “spread the word.” Though Argentina’s corruption watchdog later cleared him, the incident dented public confidence.
Public image still under pressure
Polling data from Zuban Córdoba shows that Milei’s approval rating fell from 47.3% in November to 41.6% in March following the crypto controversy. As of October, 63.2% of Argentines view him negatively, though critics point out that Zuban Córdoba is notoriously biased against far-right and libertarian figures.
Still, Milei’s midterm triumph suggests that despite controversies, his populist, pro-market, and pro-crypto stance continues to resonate with a large segment of Argentina’s electorate.
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