In current-day Argentina inflation is no joke and prices change every day. That means it’s fertile ground for bitcoin and crypto adoption. “The central bank has warned repeatedly about the risk of investing in volatile digital currencies, and some adopters are taking it carefully,” says Reuters. Once in a blue moon, mainstream media reports on bitcoin and crypto in a relatively positive light, and Argentina inspired one of those rare articles.
According to Reuters, “crypto penetration in Argentina was 12%, around double the level of Mexico and Brazil.” The cause might be that the peso “has depreciated 14% this year against the dollar” and that “annual inflation rose to 58% in April and could go as high as 70% this year.” Not only that, Argentina is under “capital controls limiting foreign exchange to $200 monthly.” So, there’s a huge incentive to seek refuge in bitcoin and stablecoins.
From Argentina: The Cafe Owner
In the Buenos Aires port of Puerto Madero, the Crypstation cafe...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...