The world tends to highlight to Argentines the characteristic of stability developed by society after several social and economic crises that have been maintained over time. A few months ago a Washington Post narrative tried to explain to Americans what it feels like to live with such high inflation, and for this the publication used Argentina as an example. Now, it’s the BBC’s turn to notice another local phenomenon: Bitcoin fever. But why does it admire the world so much?

“In Argentina, there are traces everywhere of mistrust and even trauma associated with the economy,” raised from the beginning the BBC. And that choice is not trivial, the following is an attempt to solve why Argentines are going crazy for Bitcoin.

In this way and in the nearly 30 paragraphs of the BBC article, the testimonies provide an account of the Argentine syndrome always looking for an alternative that will help to make the income better. For example, for Jerónimo Ferrer, creator of the bitcoin tour of Buenos Aires,“A formative memory is the crushing of Argentina’s financial crisis in the late 1990swhen bank accounts were frozen and, almost overnight, people’s savings evaporated. “

Since 2019, Ferrer has conducted “Our fun local economy and Bitcoin tour of Buenos Aires”, a tour which he explains to tourists. the level of restrictions faced by Argentines, such as restrictions on foreign currency transactions or restrictions on installment payments for international flights.

Another case mentioned in the BBC note was about an engineering student who kept all his savings, in US dollars, at home because he feared the banks would again leave their assets trapped overnight.

In those examples, the post goes to the topic: explain why Argentines go crazy for cryptocurrencies.

To reduce the world’s amazement at local behaviors around money and alternatives that enhance its performance, Ferrer explained that “for many cryptocurrency enthusiasts around the world, decentralized and digital currency is almost about in ideology or Income. But for many Argentines, it covers more basic needs. “

“I trust math and software more than politicians,” Ferrer explains. “And I think Bitcoin for Argentines should be brainless. “ He says.

The BBC article further warns that “there are other ways in which heavy government intervention in the economy has helped cryptocurrencies gain ground in Argentina.” And in that sense, he introduced another question: “It is relatively inexpensive to run a Bitcoin mining operation which consumes a lot of energy, because it keeps the cost of electricity relatively low“.

In this way, and despite the fact that producing this electricity will contribute to global carbon dioxide emissions, the publication details that “in Argentina these environmental issues are often overshadowed by financial concerns”.

Within the combo developed by the BBC in its paragraphs, another chapter deserves the theme of strong local inflation. “Bitcointhe most popular cryptocurrency, also help prevent high inflationbecause a certain amount of money can be created, ”the article said.

Cryptocurrencies and stable currencies are two resources that are widely used today by Argentines. “Some people in Argentina are also turning to stablecoins, pegged to the US dollar and, therefore, are less prone to changes in value, ”the publication said.

YN