Amid Argentina's severe economic crisis and plunging peso, a significant portion of Argentine investors have been buying dollar-based stablecoins like USDT and USDC at crypto exchanges to protect against inflation. This trend has seen a surge in stablecoin purchases compared to Bitcoin buys over the last 6 months. The country's interest in stablecoins has led to a stablecoin frenzy, with Argentina leading Latin America in stablecoin purchases.
🇦🇷 MILEI USING CRYPTO TO STABILIZE THE ARGENTINIAN ECONOMY? Argentina leads Latin America in stablecoin purchases, with 60% of their crypto buys in the past six months going to dollar-based stablecoins USDT and USDC. Source: CoinDesk https://t.co/RmkRg5oEAD
Bitcoin just hit a new all time high in Argentina look how much higher it is than the 2021 bull run https://t.co/uIqRBN40uj
#Bitso Reveals #Latam Is #Bitcoin Territory With a #Stablecoin Frenzy in #Argentina https://t.co/8BhcN8BSpJ
Amid a severe economic crisis and plunging peso, 60% of Argentine investor purchases on crypto exchange Bitso over the last 6 months were for dollar-based stablecoins $USDT and $USDC and just 13% of buys were for #bitcoin. https://t.co/ek2ZkCGD7c
Amid a severe economic crisis and plunging peso, 60% of Argentine investor purchases on crypto exchange Bitso over the last 6 months were for dollar-based stablecoins $USDT and $USDC and just 13% of buys were for #bitcoin. @LedesmaLyllah reports https://t.co/LL71cbxp4b
Argentines buy stablecoins at unofficial exchanges called “crypto caves” to dump their inflation-ridden pesos. https://t.co/W4ODb0JXF8