Bitcoin: why Argentina is embracing cryptocurrencies

  • By Christine Ro
  • Buenos Aires

Photo credit, Jeronimo Ferrer

image caption,

Jerónimo Ferrer is behind the walking tours called “Our crazy tour of the local economy and bitcoin in Buenos Aires”

In Argentina, there are everywhere traces of mistrust, even trauma, linked to the economy.

For Jerónimo Ferrer, one of the most vivid memories is of the financial crisis that hit Argentina in the late 1990s, when bank accounts were frozen and almost overnight the savings of people have evaporated.

He’s not the only one who remembers it. One engineering student I spoke to keeps all of his savings, in US dollars, at home because he fears the banks will devalue their holdings again overnight.

A matter of trust

While many Argentines are, by necessity, experts on the state of the economy – from the dizzying level of inflation to the current unofficial exchange rate between the peso and the US dollar – Ferrer went further. than most of them.

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