Bitcoin Is the New Dollar in Argentina

Bitcoin Is the New Dollar in Argentina

Fergus Hodgson, July 17, 2018

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Countries with high inflation rates are ideal markets for cryptocurrencies, and no country in Latin America has a more troubled history with fiat manipulation than Argentina.

Belén Marty, a local reporter with the news outlet Crypto247.com, explains that Argentines have grown so used to volatile government currencies and speculation that bitcoin faces little resistance in this regard.

She argues that the further devaluation of the Argentine peso in the near future, if the authorities fail to address the fiscal and budget crisis, could mean the definite rise of cryptocurrencies instead of a new dollarization plan.

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