Argentinians are increasingly buying Bitcoin as an alternative to the US dollar to combat rampant inflation. Bitcoin purchases in Argentina reached their highest weekly level in 20 months, driven by the cryptocurrency’s rally and the country’s 276% inflation rate. Interestingly, the appeal of the US dollar among Argentinians has diminished as the country’s peso has strengthened by around 10% in the last two months. This shift is attributed to President Javier Milei’s efforts to control the growth of the peso in circulation as part of his plan to clean up the central bank’s balance sheet.
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