{"id":455211,"date":"2022-05-30T23:42:37","date_gmt":"2022-05-30T20:42:37","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/argentines-turn-to-bitcoin-amid-inflation-worries-report\/"},"modified":"2022-05-30T23:42:37","modified_gmt":"2022-05-30T20:42:37","slug":"argentines-turn-to-bitcoin-amid-inflation-worries-report","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/argentines-turn-to-bitcoin-amid-inflation-worries-report\/","title":{"rendered":"# Argentines turn to Bitcoin amid inflation worries: Report"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a36e1476552b\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a36e1476552b\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/argentines-turn-to-bitcoin-amid-inflation-worries-report\/#%E2%80%9D_Argentines_turn_to_Bitcoin_amid_inflation_worries_Report_%E2%80%9C\" >&#8221; Argentines turn to Bitcoin amid inflation worries: Report &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Argentines_turn_to_Bitcoin_amid_inflation_worries_Report_%E2%80%9C\"><\/span>&#8221; Argentines turn to Bitcoin amid inflation worries: Report &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>Since 2016, Argentina has been engaged in a war against inflation. Caused by multiple factors, like a lack of trust in the central bank or government overspending, the depreciation of the Argentinean peso has negatively impacted citizens&#8217; purchasing power.<\/p>\n<p>This has <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.indec.gob.ar\/indec\/web\/Nivel3-Tema-4-46#:~:text=INDEC%3A%20Instituto%20Nacional%20de%20Estad%C3%ADstica%20y%20Censos%20de%20la%20Rep%C3%BAblica%20Argentina&amp;text=Los%20resultados%20del%20segundo%20semestre,%2C3%25%20de%20las%20personas\">brought<\/a> 37.3% of the population under the poverty line, and many others have had their savings vanish into thin air. Against this backdrop, many Argentines have turned to Bitcoin (BTC) and crypto as a way to hedge against 60% inflation, despite the market being in the red for several months and the central bank <a rel=\"nofollow noopener\" target=\"_blank\" href=\"http:\/\/www.bcra.gov.ar\/Noticias\/BCRA-desalienta-oferta-criptoactivos-sistema-financiero.asp\">forbidding<\/a> financial institutions from operating with digital assets.<\/p>\n<p><strong><em>Related:\u00a0<\/em><em>Argentina\u2019s central bank steps in to block new crypto offerings from banks<\/em><\/strong><\/p>\n<p>In an Americas Market Intelligence <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/americasmi.com\/the-cryptocurrency-revolution-in-latin-american-payments\/#tve-jump-17725ef3891\">report<\/a> cited by Reuters, it was <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/americas\/bitcoin-lures-inflation-weary-argentines-despite-crypto-crash-2022-05-30\/\">found<\/a> that \u201ccrypto penetration\u201d in Argentina had reached 12%, double that of Peru, Mexico and other countries in the region.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-05\/d24b0925-08d8-4004-a8cc-c6f590bbb26d.png\"><figcaption style=\"text-align: center;\"><em>Argentines <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ear to be adopting crypto at a faster pace due to inflation. Chart created via Canva.<\/em><\/figcaption><\/figure>\n<p>In addition to Bitcoin, Argentines have been turning to stablecoins  increasingly as a means of storing value in the United States dollar, especially as their country imposes strict capital controls on foreign exchange services.<\/p>\n<p>When the creator of Ethereum, Vitalik Buterin, visited Argentina in December, he stated that cryptocurrency adoption in the country was on the rise and that stablecoin adoption was also growing significantly. He cautioned that this could change if the U.S. dollar began exhibiting serious problems. <\/p>\n<p>On a broader scale, Argentina appears to be taking a cautious approach to digital asset regulation. In a 2021 <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Youtube<\/a> interview, Argentine President Alberto Fernandez <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=VBlKECPQ3Wo&amp;t=18s\">said<\/a>, \u201cThere\u2019s a huge discussion about cryptocurrencies, it\u2019s a global debate and I must confess it\u2019s a matter of caution.\u201d <\/p>\n<p>On a brighter note, he also stated that \u201ccrypto has an advantage\u201d because \u201cit helps contain inflation\u201d and that, \u201cin a sense, it\u2019s a steady asset.\u201d<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template><\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/argentines-turn-to-bitcoin-amid-inflation-worries-report\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Argentines turn to Bitcoin amid inflation worries: Report &#8220; Since 2016, Argentina has been engaged in a war against inflation. Caused by multiple factors, like a lack of trust in the central bank or government overspending, the depreciation of the Argentinean peso has negatively impacted citizens&#8217; purchasing power. This has brought 37.3% of the&#8230;<\/p>\n","protected":false},"author":1,"featured_media":455212,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDUvMTNlMzQ0ODUtYjcwZi00ZGI3LTk3ZGYtNzFlZDU1MzE0N2ZmLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[76853,79490,74355,22845],"class_list":["post-455211","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-latin-america","tag-south-america","tag-adoption","tag-argentina"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/455211","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=455211"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/455211\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/455212"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=455211"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=455211"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=455211"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}