Argentina’s soaring inflation and currency instability have led to significant investor outflows, with the peso dropping approximately 4.5% last week after turbulent elections. US Treasury Secretary Scott Bessent proposed potential stabilizing measures, yet doubts linger over President Javier Milei due to corruption allegations.
In the midst of economic turmoil, Argentines are increasingly turning to cryptocurrencies like Bitcoin as alternatives to the peso. The demand for dollar-backed stablecoins is also rising, highlighting a trend towards crypto adoption as citizens seek refuge from growing fiscal uncertainty.
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