Elon Musk Says Argentina’s Pro-Crypto President Will Make the Country Rich Again. Can Memecoins Like $GFOX Replace the Sinking Peso?

The window is closing faster than most investors realize. TradFi’s most prominent players have given crypto the green light with their Spot ETF applications, and now nation-states are adopting pro-crypto stances. Hold onto your hats because this cycle will dwarf all that have come before.

Elon Musk says Argentina’s pro-crypto president will make the country rich again, and Javier Milei’s victory shows that Argentina has an appetite for change. But what are the best cryptocurrencies to buy headed into 2024? Can memecoins like Galaxy Fox ($GFOX) replace the sinking peso? And what will Argentina look like in the coming decade?

Javier Milei, Musk’s Proclamation, and Another Bitcoin ($BTC) Friendly Nation

Javier Milei has been elected president of Argentina, and this radical libertarian has sweeping plans for change. Pictured in one of his campaign ads smashing Argentina’s Central Bank, can Milei bring the shakeup Argentina drastically needs?

Keen to slash state spending, stamp out inflation, replace the peso with the dollar, and shut down the Central Bank. Outsiders see pain ahead for Argentine citizens, but nothing worth having ever came easy, and a figure like Milei could be precisely what the country needs.

Musk tweeted his support in November with a simple message: ‘‘Prosperity is ahead for Argentina.’’ The founder of Tesla knows first-hand the pain of bureaucracy, and his simple statement implies that Argentina will fare much better by abolishing state controls and its complex bureaucratic systems.

Milei is another fiercely pro-Bitcoin politician. He joins the ranks of Bukele, the president of El Salvador, in pushing for decentralized hard internet currency. Greater adoption of Bitcoin ($BTC) means greater crypto adoption, and this new capital will eventually find its way into DeFi.

As investors watch political events in Argentina, the real question is, what are the best cryptocurrencies to buy now, given the changing global attitude toward crypto? Could deflationary memecoins like Galaxy Fox be the answer to the inflationary woes of the Argentinian peso? 

Galaxy Fox ($GFOX): Masterclass in Deflationary Tokenomics

Galaxy Fox keeps being mentioned by experts as one of the top 5 cryptos to buy now, and its deflationary nature makes it a perfect alternative to the sinking peso. This play-to-earn token launches an…