Argentines began to buy bitcoins due to the reduction of the limit on the purchase of dollars

Argentines began to buy bitcoins due to the reduction of the limit on the purchase of dollars

The inhabitants of Argentina have become more active invest in bitcoin after the country’s central bank reduced the monthly purchase limit for US dollars by 98%.

From October 28, individuals can buy no more than $ 200 per month if they 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 against the background of the collapse of the Argentine peso and an increase in the annual inflation rate to 50%.

Although the reduction in the Central Bank’s reserves and tight restrictions on the purchase of the dollar are temporary in nature, and will be revised again on December 1, such measures have increased the interest of citizens in the cryptocurrency market, in particular in bitcoin..

It should be noted that so far, the trading volumes in the local digital currency market insignificant compared to the total turnover, therefore practically do not affect the overall dynamics of the course. However, many supporters began to actively talk about the benefits of switching and using decentralized assets..

The unstable situation in other countries of the world also has a positive impact on the popularity of bitcoin, for example, the approach of Brexit makes the British more friendly in relation to cryptocurrencies.

text: Ivan Malichenko, photo: criptopasion

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