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The price of a Bitcoin in Argentina is approaching one and a half million pesos

July 28, 2020

Due to the devaluation of the Argentine peso in the Argentine Republic, Bitcoin is rapidly approaching a historical value of around 1.5 million pesos in that country. At the time of this writing, the one and a half million pesos, taking into account the data from the comparison site Coinmonitor.info, was a number that was soon to be reached in the exchange offices that would enable the purchase and sale of BTC.

At the time of this release – according to CoinMonitor-, Regarding the Bitcoin purchase price, the price in Argentina at Athena ATMs was 1,454,899.25 pesos; in Ripio to 1,444,714.86 pesos; in SeSocio to 1,443,986.46 pesos; in ArgenBTC at 1,443,986.46 pesos; and in SatoshiTango at 1,424,695.78 pesos.

On the other hand – also according to CoinMonitor-, The average average price of Bitcoin was 1,350,787.80 Argentine pesos. This number is the average of the median sales and the median purchase of the top in Argentine pesos, which can be displayed in Coinmonitor.

The price of a Bitcoin in Argentina is approaching one and a half million pesosThe price of a Bitcoin in Argentina is approaching one and a half million pesos

Especially In Argentina, residents live alongside the global crisis caused by the Covid-19 for decades, the constant devaluation of the Argentine peso and the successive economic crises that have occurred over time.. In addition to high inflation, many foreign currency buying restrictions (which have intensified in the past few months), and high fiscal pressures, this can be factors that cause citizens to look for an alternative to fiat currency in cryptocurrencies.

Exponential increase

Bitcoin (BTC) volume in Argentine pesos has grown exponentially since the cryptocurrency declined in 2018. Arcane research published data on Twitter on April 23, which shows that the weekly volume of Bitcoin bought with Argentine pesos has increased by 1.028% since January 2018.

The financial crisis in Argentina, in addition to the global economic impact of the corona virus, is particularly complicated compared to other countries that have sparked interest in cryptocurrency as a reliable asset that does not correlate with inherited markets.

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