Even before the Coronavirus crisis, the Argentine peso was more unstable than it was for the national economy. But with the global crisis, the first signs of hyperinflation have developed. Could the situation in Argentina be ahead of the global trend?
Bitcoin News: Bitcoin more popular in Argentina than ever before
The highly indebted country has shown a clear trend towards Bitcoin since 2018. This showed not only a high increase in BTC transactions, but also a flight of capital to the BTC compared to the peso. In 2018, however, this was smaller than against the US dollar. However, if the US dollar also gets into trouble, where will the Argentinians invest their capital? The answer to this question could include Bitcoin.And since the corona crisis has hit all economic powers, almost all central banks responded with a “stimulus package”. This is nothing more than a metaphor for “we are printing money to buy a more stable currency in the present through inflation in the future”.Just as the Argentines are rejecting their pesos, the Americans could soon do the same with the US dollar and the Europeans with the euro.