Close Menu
CryptoHoppers.comCryptoHoppers.com
    What's Hot

    Kadena’s Crankk brings improvements to IoT

    June 10, 2023

    Microsoft collaborates with Goldman Sachs & launches new Blockchain network

    May 22, 2023

    How Filecoin will benefit from rising interest in AI

    October 23, 2023
    Facebook X (Twitter) Instagram
    • Privacy Policy
    • Get In Touch
    Facebook X (Twitter) Instagram
    CryptoHoppers.comCryptoHoppers.com
    • News

      Will Pi crash or rally in 2025?

      July 11, 2025

      July’s Rate Cut Dreams Fade: Fed Seen Holding Firm as Trump Fumes

      July 10, 2025

      UAE Rejects $100K Crypto Visa Program as TON’s Staking Plan Triggers Regulatory Backlash

      July 8, 2025

      Digital trade tensions take center stage between the U.S. and South Korea

      July 7, 2025

      Traders Gear Up: FOMC Prep Signals Bitcoin, Altcoin Buying Frenzy

      July 6, 2025
    • Technology

      SUI Price Targets Breakout as Macro Triangle Pattern Tightens and TVL Tops $2B

      July 11, 2025

      Coinbase partners with Perplexity to unlock real-time crypto data for traders

      July 10, 2025

      Comment on Bitcoin Surges to $110K as Selling Pressure Declines; Is BTC Charting its Way to a New ATH Soon? by Bitcoin Price Prediction: BTC to Hit $145.1K by Year-End and More

      July 9, 2025

      CleanSpark Doubles Bitcoin Mining Power After Georgia Expansion

      July 8, 2025

      Dogecoin price double bottoms as whale accumulation continues

      July 7, 2025
    • Learn/Guide

      Best Crypto PR Agencies of 2025

      July 11, 2025

      Coinbase, Perplexity AI join forces to enhance crypto data access for traders

      July 10, 2025

      Top perps DEX GMX hacked for over $40m, $GMX token plunges

      July 9, 2025

      Cardano Foundation unveils blockchain-based tool to simplify audit compliance and enhance financial reporting

      July 8, 2025

      Plume Network brings real-world yield to TRON’s global payment ecosystem via SkyLink integration

      July 7, 2025
    • NFTs

      1mouth Analog: miirror’s Raw Leap from Digital to Handmade Chaos | NFT CULTURE | NFT News | Web3 Culture

      May 9, 2025

      NFTCulture Expands Into TCGs with Cardcore.xyz: Where Digital Collectibles Meet Competitive Play | NFT CULTURE | NFT News | Web3 Culture

      May 8, 2025

      From Moonshots to Broken Links: The Rise and Fall of CloneX | NFT CULTURE | NFT News | Web3 Culture

      April 24, 2025

      Pacific Spirit: Vinyl Meets Code in a Groundbreaking Generative Drop on Art Blocks | NFT CULTURE | NFT News | Web3 Culture

      April 16, 2025

      Daizen: Elevating the NFT Multiverse on Apechain Blockchain | NFT CULTURE | NFT News | Web3 Culture

      December 5, 2024
    • Regulation

      SEC Drops Binance Lawsuit: How Regulatory Clarity Could Spark a BNB Price Rally

      May 30, 2025

      Kentucky Governor Signs Off On ‘Bitcoin Rights’ Bill, Strengthening Crypto Protections

      March 31, 2025

      Utah Moves Closer To Bitcoin Reserve As Bill Advances To Senate Standing Committee

      February 23, 2025

      Bitcoin ETFs In Focus As Kansas Senator Proposes Up To 10% Pension Fund Allocation

      January 26, 2025

      MicroStrategy May Face Tax Issues Over $19 Billion Unrealized Bitcoin Gains: Report

      January 25, 2025
    • Business

      Sri Lanka’s E-commerce Platform Kapruka to Introduce Crypto Payments

      November 17, 2024

      Leading Eastern European Exchange Exmo Sells Business in Russia, Belarus

      November 16, 2024

      Bank of Russia to Launch Digital Ruble Payment Infrastructure by July 2025

      November 15, 2024

      Bitcoin Mining Company Mara Holdings Now Holds 26,747 Bitcoin: Q3 Earnings Report Reveals

      November 14, 2024

      Brazil Prepares to Let Tradfi Institutions Embrace Crypto

      November 13, 2024
    • Live Pricing
    CryptoHoppers.comCryptoHoppers.com
    Home » Four Stories From Argentina, Where Bitcoin And Crypto Rule The Land
    Regulation

    Four Stories From Argentina, Where Bitcoin And Crypto Rule The Land

    May 19, 20234 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    Argentina, flag waving
    Share
    Facebook Twitter LinkedIn Pinterest Email


    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{ee212069bfc2680724ddd6b0d505d051cd6a6be760d8da0a6a57844f2abae5c8}, around double the level of Mexico and Brazil.” The cause might be that the peso “has depreciated 14{ee212069bfc2680724ddd6b0d505d051cd6a6be760d8da0a6a57844f2abae5c8} this year against the dollar” and that “annual inflation rose to 58{ee212069bfc2680724ddd6b0d505d051cd6a6be760d8da0a6a57844f2abae5c8} in April and could go as high as 70{ee212069bfc2680724ddd6b0d505d051cd6a6be760d8da0a6a57844f2abae5c8} 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 recently opened. Screens show “real-time cryptocurrency price quotes” and they accept bitcoin and crypto. Reuters quotes one of  Crypstation’s founders, Mauro Liberman:

    “The local environment is pushing people to protect their capital in cryptocurrencies and so we see growth speeding up. Throughout Latin America the growth potential is enormous. It is an avalanche that won’t be stopped.”

    From Argentina: The IT Specialist

    Another interviewee is Victor Levrero, “an IT specialist in Buenos Aires province” who “puts his extra savings into stablecoin and bitcoin each month after using up his $200 quota to convert pesos to dollars.” He told Reuters that he doesn’t even bother with banks anymore:

    “Basically, it’s because I lose less. With Argentine inflation of between 60-70{ee212069bfc2680724ddd6b0d505d051cd6a6be760d8da0a6a57844f2abae5c8}, and fixed terms paying 30-35{ee212069bfc2680724ddd6b0d505d051cd6a6be760d8da0a6a57844f2abae5c8}, it just doesn’t work.”

    BTC price chart for 09/20/2022 on Bitstamp | Source: BTC/USD on TradingView.com

    From Argentina: The Self-employed Computer Technician

    Even though he’s in computers, Marcelo Vila only has “a small amount invested in bitcoin and Ether.” He’s proceeding with caution, as all newcomers should:

    “The idea is to expand the proportion of funds invested in crypto. But until I get to know the crypto market, I can’t put a lot of money into it.”

    From Argentina: The Home Miner

    The fourth subject is Sebastian Carsorio, who comes from a poor neighborhood and “is looking to dig himself out of poverty using a home-made cryptocurrency mine he assembled with recycled computer parts from his work.” Impressive.

    “I repaired the things and put it together in a computer,” he told Reuters at his home, where he had screens showing how the mining is going. He started with Ethereum and then bitcoin – which allowed him to buy some land and go back to school.

    “I’ll keep mining because it’s a good way of saving,” Carsorio said, explaining that he gets a better exchange rate for pesos than he would on the street. “When money has been tight, mining has saved me many times.”

    How many Argentinians could say something similar? Bitcoin and crypto are taking hold in the country because people need them. The deal the government signed with the FMI that specifically demanded for them to discourage the bitcoin industry in Argentina can only do so much. People need a refuge from inflation and cryptocurrencies provide it, it’s as simple as that.

    In recent news that reflect crypto adoption, Bitfarms recently started the engine on their brand new bitcoin farm in Argentina. For their part, the government of the wine-producing region of Mendoza announced that they will accept tax payments in cryptocurrencies.

    Featured Image by Pexels from Pixabay | Charts by TradingView

    Post-Merge, Ethereum mining rig



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    SEC Drops Binance Lawsuit: How Regulatory Clarity Could Spark a BNB Price Rally

    May 30, 2025

    Kentucky Governor Signs Off On ‘Bitcoin Rights’ Bill, Strengthening Crypto Protections

    March 31, 2025

    Utah Moves Closer To Bitcoin Reserve As Bill Advances To Senate Standing Committee

    February 23, 2025

    Bitcoin ETFs In Focus As Kansas Senator Proposes Up To 10% Pension Fund Allocation

    January 26, 2025
    Top Posts

    UBS launches tokenized treasury fund on Ethereum

    November 3, 2024

    Crypto Firm Matter Labs And Polygon Developers Lock Horns Over Plagiarism

    August 4, 2023

    Korean Researcher Says Benefits of Spot Crypto ETFs Are Outweighed by Potential Harm

    June 25, 2024

    Welcome to CryptoHoppers.com! Stay informed with the latest updates, trends, and insights from the dynamic world of cryptocurrencies. From Bitcoin to altcoins, blockchain technology to decentralized finance (DeFi), we cover it all. Discover expert analysis, market trends, regulatory developments, and exciting innovations shaping the crypto industry.

    Top Insights

    Will Pi crash or rally in 2025?

    July 11, 2025

    July’s Rate Cut Dreams Fade: Fed Seen Holding Firm as Trump Fumes

    July 10, 2025

    UAE Rejects $100K Crypto Visa Program as TON’s Staking Plan Triggers Regulatory Backlash

    July 8, 2025
    Advertisement
    Demo
    CryptoHoppers.com
    Facebook X (Twitter) Instagram
    • News
    • Technology
    • Learn/Guide
    • Regulation
    • NFTs
    • Business
    • Live Pricing
    © 2025. Designed by CryptoHoppers.com.

    Type above and press Enter to search. Press Esc to cancel.