No one in Argentina wants bitcoin or gold. USD is both liquid and appreciating against local goods there. Bank accounts are useless, cash is king.
This reality breaks the bubble of CBDC doomers. FedNow has been out for a year. What is it doing? Nothing!
Admit the truth. USD is the safest bet if you're outside of the US. Crypto presents little danger to the current system.
Dolar is king but I don't know if you are aware that in 2022 the country was forced to sign a "no development" contract with the FMI
You mean International Monetary Fund? I am not aware of that contract. What is a brief summary of it?
As sad as it may seem, the IMF demanded Argentina to discourage the use of Bitcoin to postpone debt payments. Banks were offering bitcoin services and even Binance had a credit card. all gone.
Argentina has lots of energy that cannot move from the extraction site, Bitcoin would solve this. It was one of the most feasibles alternatives Argentina had, which is precisely why the IMF shut it down.
But what's stopping people from buying bitcoin with cash instead of USD?
Have in mind that 50% of Argentineans struggle to get to the end of the month and don't even buy dollars. People with savings capacity buy dollars and bitcoin. mostly young people with savings capacity
I got my info from George Gammon. He was having trouble selling his BTC for cash. Watch his show on YT, and let me know your opinion, amigo 😀 maybe he's full of shit.
They are buying, by P2P and even in what they call "the caves" that used to be for buying dollars you can now also buy Bitcoin.
