Bitcoin Price Reaches More Than $12,300 in Argentina as Peso Tumbles 30 Percent 

Libra Coin News
Mon, 08/12/2019 - 18:07
Alex Dovbnya
Bitcoin is a tad more expensive in inflation-stricken Argentina after the country’s  president faced an upset defeat in the primary election
Cover image via 123rf.com

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.

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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.  

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.


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