When Javier Milei took power in Argentina there was one group whose ears pricked up with interest: the global crypto bros. After all, here was a president who seemed perfectly aligned with their values. A lover of economic freedom who harbours a deep hatred for state regulations and government spending. Surely this ‘anarcho-capitalist’ was a fan of cryptocurrencies? Twitter filled with threads about why Milei’s election victory was a ‘big moment for Bitcoin’.

Once in power, however, he did not seem all that interested. That is until Friday, when he took to his X account to post about a new crypto coin that was ‘dedicated to boosting the growth of the Argentine economy by funding small businesses and entrepreneurs’.