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.
Bitcoin won’t save Argentina but a gold-backed stable coin could help citizens
