EOS
$5.41 -0.75%
EOS · 4w

The people of ARGENTINA : Buy cryptocurrency’s

IN ARGENTINA, INVESTORS FLOCK TO SAFE-HAVEN BITCOIN

The economic crisis in Argentina is driving investors to buy Bitcoin in order to protect their wealth, pushing the cryptocurrency’s price higher in-turn. In parallel, to satisfy the increasing demand, the first of 12 Bitcoin ATMs has already begun to operate in a Buenos Aires mall. The number of stores accepting Bitcoin also continues to rise.

BITCOIN IS A SAFE-HAVEN DURING AN ECONOMIC CRISIS As the country’s currency plunges, Argentinian investors and ordinary people are exchanging their pesos for Bitcoin (BTC)  In this regard, economist and mathematician D.H. Taylor writes,

“Argentinians are moving in large numbers out of their peso and into a more stable currency, BTC. The numbers being witnessed by the markets in BTC are surging from Argentina.” And he adds, “The stability being offered by the digital currency is far greater than the peso and Argentinians are moving in quickly.”

As for substantiating evidence, Taylor refers to the chart below showing the weekly volume of Bitcoin purchases in Argentina:

One of the wealthiest countries in Latin America, Argentina is once again undergoing a severe economic crisis. In April 2018, the peso started plunging against the dollar at an unexpected speed.

Most economists agree that the devaluation of the peso is due to investors’ doubts about the government’s ability to contain its unrelenting inflation and to minimize the effects of the U.S. Federal Reserve interest rate increases, which have strengthened the dollar all over the world.

Now, the Argentina year-over-year inflation rate reaches over 34 percent.

TAYLOR: THE BIGGEST SOLUTION IS BITCOIN So far, the efforts of Argentina’s Central Bank to stabilize the peso have been to no avail. As a result, according to Taylor, the Central Bank is exploring the possibility of diversifying into Bitcoin,

The biggest solution is Bitcoin, or BTC-USD and, according to the d...

Continue on bitmexdotcom.blogspot.com
Recent news
EOS -0.75% · thecoinoffering.com · 2h

A Beginner's Guide to EOS (good for newbies to EOS)

EOS promises to be a powerful infrastructure for decentralized applications. It aims to achieve this by providing a unique operating system-like construct on which software developers can easily build...
EOS -0.75% · trybe.one · 4h

Lots of New Categories on Trybe.one

For quite a while people have been asking us for new categories on Trybe. Blockchain and cryptocurrencies are fascinating - but sometimes you just want to read about something else, right? Well, now y...
EOS -0.75% · trybe.one · 6h

22.10.2018. EOS Update

Hello guys! I've been away for 10 days - for good and bad. Good is the opportunity to relax a little, but bad is that everything gets distorted. I love my routines. I gotta do my daily runs/walks, mar...
EOS -0.75% · trybe.one · 8h

Lots of New Categories on Trybe.one

For quite a while people have been asking us for new categories on Trybe. Blockchain and cryptocurrencies are fascinating - but sometimes you just want to read about something else, right? Well, now y...