on the crypto
As it is known, Argentina has long been very attentive to the phenomenon of cryptocurrencies. What makes Argentine citizens' interest in digital assets even higher is the fact that they constitute one of the best antidotes to monstrous inflation levels, which make the purchase of products complicated for the vast majority of low-wage workers. Basic. Just to remedy the continuous devaluation of weight, more and more those who convert it into Bitcoin which, despite being subject to considerable fluctuations, is nevertheless a much more stable monetary element.
Last week, in this scenario, a not insignificant element was inserted, namely the decision taken by the Banco Central de la República Argentina, which imposed a further reduction in the amount of US dollars that can be purchased from savers from month to month. If before it was possible to buy 10mila, now the permitted quantity is attested to just 200, with a 98% reduction. To underline the seriousness of the situation, it should be remembered that the previous threshold had been introduced only at the beginning of October. The measure had been advised by the need to stem the progressive erosion of the price of the Argentine currency, which has practically halved over the past twelve months.
The same central bank has in turn guaranteed that the measure will remain in force only until the end of the year. An insurance which, however, does not seem to have been taken very seriously by Argentine citizens.
BTC trading rears up
To prove the assumption is a fact that has been made public in the past hours and on the basis of which the BTC trading transactions on the dedicated LocalBitcoins platform have soared considerably, reaching values among the highest ever. At least according to the data that have been remembered by Coin Dance, last week would amount to 14,1 million the number of pesos transformed into Bitcoin, equivalent to about 240 thousand US dollars.
The data in question is even more remarkable if you think that just LocalBitcoins in the past few days had seen 40% trades on its platform collapse, due to the decision on mandatory identity verification. A measure made necessary by compliance with European anti-money laundering rules, which however does not seem to have been taken well by consumers.
The end of the Macrì era
Everything happens while the country decrees the end of the reign of Mauricio Macrì, defeated in the presidential election by the candidate of the Peronist left Alberto Fernandez. The former president paid for the attempt to impose the ultra-liberal recipes of the International Monetary Fund, causing great protests across the country, especially in the social classes, which had seen their living conditions further compressed. Of course, public opinion now expects a drastic change of course, on which, moreover, the new president had spent himself in the electoral campaign and could have further consequences on the Argentina cryptocurrency trading, which is increasingly popular and seen as a possible antidote to the devaluation of the sovereign currency.