Bitcoin and Crypto Reign Supreme in Argentina | Crypto

Bitcoin and Crypto Reign Supreme in Argentina

– In Argentina, inflation is a big problem, and prices change every day. This makes it a good environment for bitcoin and crypto adoption.
– According to Reuters, crypto penetration in Argentina is 12%, around double the level of Mexico and Brazil.
– The cause of this might be that the peso has depreciated 14% this year against the dollar, and that annual inflation has risen to 58% in April.
– Crypto provides a refuge from inflation for people in Argentina.
– The government of Mendoza has announced that they will accept tax payments in cryptocurrencies.

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