Crypto NewsNewsGrayscale: "Bitcoin and Cryptocurrency Adoption in Argentina Could Become Massive with the...

Grayscale: “Bitcoin and Cryptocurrency Adoption in Argentina Could Become Massive with the Latest Development”

Digital asset management company Grayscale argues that Bitcoin's role may grow following the recent election in Argentina.

Follow Bitcoin Sistemi Google News Button

The recent election of libertarian Javier Milei as president of Argentina could potentially strengthen the country's use of cryptocurrency, according to an analysis shared by Grayscale, the largest digital asset management company.

Milei's ambitious plans to reform monetary policy and possibly shut down the Central Bank of Argentina have set the stage for potential ripple effects in both the traditional finance and cryptocurrency worlds.

Related News  JUST IN: Pro-Bitcoin Candidate Javier Milei Wins Election in Argentina, BTC Breaks $37,000

Following Milei's successful bid to become the leader of South America's second-largest economy, the price of Bitcoin hit its highest level in more than a year and a half, reaching almost $38,000. The unorthodox politician touted Bitcoin as “the return of money to the private sector, which is its true owner.”

Argentine citizens have long suffered from hyperinflation and the local currency losing more than 100% of its value against the US dollar year on year. The country's monetary struggles, including hyperinflation that reached 143% in consumer prices, were highlighted by Grayscale Research.

According to Grayscale, Milei's presidency could pave the way for greater acceptance and integration of cryptocurrencies in the Argentine economy, offering a potential solution to these long-standing problems.

*This is not investment advice.

Buradaki Yorumlardan Bildirim Al

Inline Feedbacks
View all comments

Popular Posts of the Week

Market Value