Argentina sees record Bitcoin purchases amid 276% inflation and President Milei's policies.

Argentina is experiencing a surge in Bitcoin purchases as a hedge against its 276% inflation rate, with weekly transactions on local crypto exchange Lemon reaching their highest in 20 months. This shift in preference is attributed to Argentina's President Javier Milei's shock therapy policies and the strengthening of the peso against the dollar. Bitcoin's rally has attracted more buyers, leading to a decline in the usage of stablecoins. However, this shift has also resulted in a rise in cryptocurrency scams.

March 19, 2024
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