Argentina Is Open To Bitcoin Adoption

The president of Argentina Alberto FERNANDEZ said the country is open to accepting bitcoin and believes that cryptocurrency can add value to the Argentine economy. The president of Argentina's central bank, Miguel PESCE, criticized bitcoin a few days ago. In his opinion, bitcoin is not a real financial asset and does not have sustainable profitability.

Ever since El Salvador launched its bitcoin adoption plan, the world has been waiting for other countries to follow suit. There is also a lot of interest in the central bank digital currency (CBDC) as many governments see great benefits in modernizing outdated paper money.

In an interview with Caja Negra, the president of Argentina supported the possible legalization of bitcoin, and also approved the creation of a national digital currency by the central bank. The president noted that the main advantage of bitcoin is that the inflationary effect is largely leveled out. Argentina has been struggling with this problem for many years. In June 2021 alone, consumer prices rose more than 3%. Thus, analysts have concluded that 12-month inflation will be over 50%.

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