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.
source Bitcoin cannot become a mainstream currency. The Bitcoin network is simply not capable of handling such volumes. Also the current situation of Argentina is not something where Bitcoin or other cryptocurrencies can help. It is simply not possible.
If Argentina really wants to get back on track, we will have to adopt some other currency systems just the way Zimbabwe did. Cryptocurrencies are not the answers to every problem. Removing Central Bank entirely can be a suicide for Argentina.
Alternatively cryptocurrency can work as a parallel currency system in the country where both fiat and cryptos can be used to buy goods and services. Removing feat entirely can have severe consequences which may not be reversible at all.