Michael Saylor: Bitcoin is hope for Argentina The co-founder | Global CRYPTO News
Michael Saylor: Bitcoin is hope for Argentina
The co-founder of MicroStrategy said that the economy of this Latin American country can only recover thanks to cryptocurrencies, in particular bitcoin.
“Bitcoin is the hope for Argentina,” Michael Saylor tweeted.
And he posted a picture that shows the official exchange rate of the dollar to the local peso and the unofficial one, which is twice as high as the official one.
Sailor has regularly stated that traditional money in its current form is already dying. He cited the recent failures of American banks as an example, and also mentioned the devaluation of the national currency in Argentina.
Earlier, the Central Bank of the Argentine Republic (BCRA) announced that it was seeking to mitigate the financial risks that digital asset transactions could create.
Now in Argentina there is a demand for bitcoin and other cryptocurrencies - investors are trying to protect themselves from inflation and make a profit. Against this background, in the fourth quarter of last year, the volume of P2P transfers doubled and reached a new record. Argentina is the leader in the penetration of cryptocurrencies in Latin America.
The National Commission on Values of Argentina (CNV) recently approved the Bitcoin Futures Index as part of a strategic innovation program. The index will be the first such product in Latin America.
