Where Bitcoin Fits as Argentina Faces a Dollar Shortage and 100%+ Inflation
The Breakdown
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The Argentine Currency Crisis Is Flowing Over Into a Political Crisis
Argentine currency crisis has flowed over into a political crisis. President Alberto Fernandez's chief advisor resigned without providing a reason, and the president announced that he would not be standing for re-election in October. The concern now is that the government will be forced to dramatically devalue the peso ahead of the next election. Bitcoiners see an example of inflation like this, our natural tendency is to see Bitcoin as fixing it. However, knowing the local economy very well, this is not something that would be adopted or could be implemented at this time.
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