On Aug. 12, Argentina’s peso tumbled more than 30 percent after its incumbent president President Mauricio Macri lost the primaries by a huge margin. The center-right politician was defeated by his left-wing rival Alberto Fernández.
Bitcoin bull Anthomy Pompliano didn’t waste any time to predict that Argentina could be the first country to face a currency crisis during the looming global recession.
BTC is currently trading with a $1,000 premium on Finnish P2P exchange LocalBitcoin due to the lack of liquidity in the country.
However, cryptocurrency trader Alex Krüger slammed those ‘bitcoiners’ who want to capitalize on the ongoing crisis in Argentina. He further claims that the Argentinians hedge against peso with the help of the US dollar.