April 21, 2024

Argentines began to buy bitcoins because of a reduction in the limit on the purchase of dollars

Argentines began to buy bitcoins because of a reduction in the limit on the purchase of dollars

Residents of Argentina have become more actively investing in Bitcoin after the country's central bank reduced the monthly purchase limit of US dollars by 98%.

From October 28, individuals can buy fora month no more than $ 200 if you have a bank account, and receive no more than $ 100 in cash. The previous limit was $ 10 thousand and was introduced due to a significant outflow of capital from the country amid the collapse of the Argentine peso and an increase in annual inflation to 50%.

Although the reduction in Central Bank reserves and strict restrictions on dollar purchases are temporarynature, and will be revised again on December 1, but such measures have increased the interest of citizens in the cryptocurrency market, in particular in bitcoin.

It is worth noting that while trading volumes are atthe local digital currency market are insignificant compared to the overall turnover, therefore they practically do not affect the overall exchange rate dynamics. However, many supporters have begun to actively talk about the benefits of switching to and using decentralized assets.

The unstable situation in other countries of the world is alsohas a positive impact on the popularity of Bitcoin, for example, the approach of Brexit makes the British more friendly towards cryptocurrencies.

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