September 23, 2020

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 began to invest more actively in bitcoin after the country's central bank reduced the monthly limit for buying 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 severe restrictions on the purchase of the dollar are temporary nature, 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 onlocal market of digital currencies are insignificant in comparison with the total turnover, therefore they practically do not affect the general dynamics of the exchange rate. However, many supporters began to actively talk about the benefits of transition and use of decentralized assets.

Unstable situation in other countries of the world alsohas a positive effect on the popularity of bitcoin, for example, the approach of Brexit makes the British more friendly with respect to cryptocurrencies.

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