Bitcoin won’t save Argentina but a gold-backed stable coin could help citizens ByAndrew GillickPRO INVESTOR Updated: 22 July 2021 DisclosureWe sometimes use affiliate links in our content, when clicking on those we might receive a commission – at no extra cost to you. By using this website you agree to our terms and conditions and privacy policy. Join Our Telegram channel to stay up to date on breaking news coverage Argentina and Venezuela are in the state of classic inflationary recessions. Argentina has raised its interest rate to 60% to counter the peso’s depreciation against the USD which is down over 50% year to date – but only Argentinians holding Bitcoin would have fared worse. A crypto that would serve a purpose is a stable coin redeemable for gold, as local demand and price for gold in Argentina has typically surged during the trough of its recent debt busts. Join Our Telegram channel to stay up to date on breaking news coverage