BUENOS AIRES – Thousands of enthusiastic supporters of Argentine President-elect Javier Milei took to the streets of Buenos Aires on Sunday, waving yellow flags bearing the image of a lion – the totem of the wild-haired libertarian.

The flags were sold “for two dollars” to support Milei’s plan to abandon the country’s volatile peso in favor of the U.S. currency to try to stop inflation.

One supporter dressed up as a lion, while another wore a makeshift chainsaw on his head – a reference to the power tool Milei carried around during his campaign and pledged to cut government spending.

“Freedom! Freedom!” shouted the huge crowd that gathered at Milei’s campaign headquarters before making their way to the historic obelisk monument.

Milei, a 53-year-old economist and political newcomer, has upended Argentine politics by ousting the traditional parties that have ruled in recent decades – and been punished by voters amid a crippling economic crisis.

“I am happy, I have hope. A change was necessary,” said Nicolas Paez, a 34-year-old architect with a blue and white Argentine flag draped over his shoulders.

“I really didn’t think he would win, but the youth made the difference,” he added.

In the crowd, supporters took selfies with a man wearing a Milei mask, a black suit and a tie with a dollar bill print.

In recent years, the government has tightly controlled the peso and access to dollars, leading to a complex plethora of exchange rates.

“I’m not afraid of Milei, I’m afraid that my father won’t be able to pay his rent. I strongly believe in dollarizing the economy. The Argentine peso is no longer worth anything,” said Juan Ignacio Gomez, a 17-year-old high school student who came alone to celebrate Milei’s victory.

“Hit rock bottom”

Milei beat Economy Minister Sergio Massa of the long-dominant Peronist coalition.

“Peronism is a cancer in this country. We’ve had enough of it. It is synonymous with poverty,” said Nacho Larranaga, a 50-year-old writer.

“Milei is a stranger, but better a madman than a thief.”

Miguel Besnador, a 57-year-old refrigerator repairman, is convinced that Milei will put an end to the economic crisis.

“Dollarization won’t happen immediately because we don’t have dollars, and inflation won’t go down in two days,” he admits. “But sometimes you have to hit rock bottom to rise.”

In Massa’s camp, supporters of the populist Peronist movement, known for a generous social program and high subsidies, were crushed.

“Argentina is like that, when you least expect it, it embraces the tyrant. Then it cries,” said Diego Avellaneda, a 55-year-old metallurgist.

“We will return in four years… to rebuild the parts of the country they will leave behind,” Camila Velaron, 20, shouted.