Many experts have suggested dollarization as a way to save Argentina’s flailing economy, but it needs Bitcoin too.
This is an opinion editorial by Carlos Cárdenas, an institutional account manager who has worked at legacy banks and cryptocurrency exchanges.
Argentina is on the verge of financial collapse as record inflation and Argentine peso (ARS) devaluation hits the market. According to research from Steve Hanke, a professor of applied economics at Johns Hopkins University, the peso has depreciated 47% against the U.S. dollar (UD) and inflation is running higher than 118% per year. His solution: dollarize the Argentine economy.
While dollarization is already in play in Argentina to some extent (many Argentinians save in dollars and accept dollars at their businesses) the peso is still the de facto currency of the country. The Dólar Blue rate, an informal measure of the cost of buying and selling a physical dollar bill in Argentina, has risen 23 times since 2018. At th
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