Bitcoin makes new highs!
Well if you are in Argentina that is!
The price of bitcoin has never been higher in terms of the Argentine Peso.
Check out the chart:
(Source: https://www.ccn.com/bitcoin-price-all-time-high-argentina-2017-rally)
This is why bitcoin is a store of value.
Everyone in the US gets caught up in its USD price, but for people in other parts of the world it is very different.
Here, we see the volatility and think it can't make a good store of value, but in a place like Argentina, where their currency has experienced massive inflation...
Well it has been a great store of value!
Remember, bitcoin is global, it has appeal to those outside the US even if we see volatility in our dollars right now.
This is pretty crazy to see!
Argentina is wacko 🤪
Why is that?
Well, yes, but please try not to be unkind. I live in Argentina, and people here are genuinely suffering.
Today we have a "paro total" which means a general strike. There is no public transportation of any kind, so most businesses are closed.
I think he misinterpreted why bitcoin was up. I think he just thought they were blindly buying it up, not the fact it was up because their currency is inflating so terribly.
"Inflating so terribly" is about right. When our current pelotudo-in-chief took office in December 2015, it was 9 pesos to the dollar. Now it is 46 pesos to the dollar. The Macri administration has been the most disastrous in the history of Argentina; not even the infamous corralito of 2001 was this bad.
That is no good. Sorry to hear that!
Heavy movement especially in current total crypto breakout
https://www.coingecko.com/en/coins/bitcoin/ars
Yep, it's nice to see. I like your site, I use it often.
But look at the prices on localbitcoins. In some places you can sell BTC for cash and get up to 412,000
https://localbitcoins.com/places/1167241747/buenos-aires/