Peso in Freefall: U.S. Lifeline While Argentina Turns to Crypto
Argentina’s economic storm shows no signs of easing. The peso is in a tailspin, investor confidence is evaporating, and President Javier Milei’s credibility is fraying after a bruising election setback. Into this crisis steps Washington, offering a financial backstop. But while Wall Street might breathe easier, the Bitcoin crowd isn’t buying it.
Genesis Digital Assets to Mine Bitcoin using Argentina’s Stranded Gas
Bitcoin mining activities are on the rise globally, showcasing the resilience of this highly competitive industry. Genesis Digital Assets Limited has announced an initiative to mine Bitcoin using stranded gas in Argentina.
Don’t cry for Argentina’s peso: A currency on the brink
The decline of the Argentine peso continues, down about 8 percent against the dollar this week alone. After two rate hikes and the world's highest interest rate didn't stem the bleed there was an uptick in interest in bitcoin among Argentinians.
Wayniloans bitcoin lending platform gaining traction in Latin America
Wayniloans is built on a simple premise, get a loan with better terms than the bank, or earn higher returns than stocks and bonds. The Bitcoin based lending platform is less than a year old and has already made almost 600 loans in Argentina, totalling more than 7000 bitcoin.
Xapo saves Uber in Argentina for now, giving Bitcoin major exposure
Argentina and the disruptive rideshare company Uber have been locked in battle since mid-April, when officials in Buenos Aires moved to stop Uber’s local launch on April 12.
The Bitcoin Market Potential Index
The Bitcoin Market Potential Index conceptualizes and ranks the potential utility of bitcoin across 178 countries to show which countries have the greatest potential to see bitcoin adoption. The index utilizes a data set with 40 variables related to bitcoinâs current core functions: store of value, medium of exchange, and technology platform. The variables are grouped into the indexâs seven equally weighted sub-indices: technology penetration, international remittances, inflation, size of informal economy, financial repression, historical financial crises, and bitcoin penetration. Standardized and re-scaled country level data both indicate that Argentina and Sub-Saharan Africa are the country and region, respectively, where bitcoin has the greatest potential for adoption. It is argued that while bitcoin regulation can play an important, and perhaps even decisive, role in bitcoin adoption it should be excluded as an index variable for now due to insufficient data and uncertainty over its ultimate impact.
