Post
Topic
Board Bitcoin Discussion
Re: Regulatory Ease Accelerate Bitcoin Adoption In Milei’s Argentina
by
Faisal2202
on 05/12/2023, 18:13:47 UTC
According to the National Institute of Statistics and Census, inflation in Argentina is 142,7 per year. The country's struggling economy is one of the main drivers behind the Nov. 19 election of libertarian and Austrian-school economist Javier Millei as the new president. Inflation is one of the main reasons why Argentine citizens use alternatives to access dollars such as stablecoins. In this context, Miley is associated with Bitcoin and cryptocurrencies, due to her appeal to eliminate the central bank in her country. But right now, Miley's opinion on Bitcoin is neutral. "The problem I see with cryptocurrencies is that they don't have legal tender status, and they don't have an asset value.
If you are saying cryptocurrency has no asset value now then it would be wrong to say because there are around 20k+ cryptocurrencies and let's guess, 40% have asset value, which means they are backed by real money (pegged with another currency). But if you solely talking about BTC then yeah it is not pegged with any real-world assets. As it is decentralized and its prices depend on demand and supply.

Anyway, your title of the topic says, that BTC adoption has increased in Argentina while in the post you are saying Miley's opinion on Bitcoin is neutral. I don't see it as an increment in the adoption of BTC instead these are just Miley's concerns about BTC, or it shows that they have BTC in their minds and they might do something in it.