Argentines Turn to Bitcoin Amid 276% Inflation

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Author: Nidhi Kolhapur

Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.


Argentines are reportedly moving much of their savings to Bitcoin to counter the 276% inflation, one of the world’s highest inflation rates. Bitcoin is being used to safeguard their wealth instead of exchanging pesos for dollars. The Bitcoin purchases in Argentina are at a 21-month high, with Lemon reporting a significant increase in transactions, with almost 35,000 purchases of Bitcoin recorded in the week ending March 10. This portrays a growing trend among Argentines to seek financial stability amidst the massive recession. The government has also been supportive of crypto investments.

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