{"id":138167,"date":"2023-09-02T04:21:08","date_gmt":"2023-09-01T22:51:08","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=138167"},"modified":"2023-09-02T04:21:08","modified_gmt":"2023-09-01T22:51:08","slug":"bitcoin-hits-all-time-high-in-argentina-following-javier-mileis-shocking-win-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoin-hits-all-time-high-in-argentina-following-javier-mileis-shocking-win-crypto-news\/","title":{"rendered":"Bitcoin Hits All-Time High in Argentina Following Javier Milei\u2019s Shocking Win – Crypto News"},"content":{"rendered":"
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Bitcoin is now the most valuable it\u2019s ever been in Argentina following a crypto-friendly libertarian\u2019s <\/span>unlikely win<\/span><\/a> in the country\u2019s presidential primaries on Sunday.\u00a0<\/span><\/p>\n

Assets dropped in value and the Argentine peso (ARS) dipped, meanwhile, after anti-establishment candidate Javier Milei grabbed the top spot in the South American nation\u2019s election and spooked investors.\u00a0<\/span><\/p>\n

But Bitcoin has held steady and, due to the dipping peso, hit an all-time high of 10.2 million ARS yesterday, <\/span>according<\/span><\/a> to CoinGecko. It has since dipped to 10.1 million ARS.<\/span><\/p>\n

The all-time national high comes at a time when the country is suffering from one of the world\u2019s highest levels of inflation, and the peso is rapidly losing value.\u00a0<\/span><\/p>\n

Digital assets are popular in the country, though, <\/span>according<\/span><\/a> to Chainalysis, which last year ranked Argentina as having the tenth highest rate of cryptocurrency adoption anywhere in the world.\u00a0<\/span><\/p>\n

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\ud83e\udd14\ud83d\udcc8#Bitcoin<\/a>\u2019s value against the three weakest emerging markets currencies this year – the ARS, TRY and the RUB – has soared between 140% and 240% YTD.<\/p>\n

\ud83d\udc49Notably, its price in ARS just hit an all-time high! pic.twitter.com\/G97nswb22F<\/a><\/p>\n

\u2014 Kaiko (@KaikoData) August 14, 2023<\/a><\/p>\n<\/blockquote>\n<\/div>\n

Milei is a 52-year-old shaggy-haired economist with a penchant for rock music and leather jackets. He also has called central banks \u201ca scam\u201d and sung Bitcoin\u2019s praises for its finite supply.\u00a0<\/span><\/p>\n

\u201cBitcoin is the natural reaction against the scam that are central banks,\u201d he <\/span>said<\/span><\/a> last year.\u00a0<\/span><\/p>\n

Mainstream media outlets describe him as a \u201cfar-right populist,\u201d but Argentinans are clearly giving him a chance because the country\u2019s economy is in disarray.\u00a0<\/span><\/p>\n

According to the central bank, annual inflation in Argentina currently stands at 113%. That\u2019s the highest in the region after Venezuela, and rising prices in Latin America\u2019s third-largest economy have pushed many into poverty.\u00a0<\/span><\/p>\n

Social media-savvy Milei has said he wants to dollarize the economy and wants Argentina to distance itself from communist countries like Venezuela and China.<\/span><\/p>\n

If he wins, will he make Argentina into a Bitcoin-friendly economy, too?<\/span><\/p>\n

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Stay on top of crypto news, get daily updates in your inbox.<\/h3>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Bitcoin is now the most valuable it\u2019s ever been in Argentina following a crypto-friendly libertarian\u2019s unlikely win in the country\u2019s presidential primaries on Sunday.\u00a0 Assets dropped in value and the Argentine peso (ARS) dipped, meanwhile, after anti-establishment candidate Javier Milei grabbed the top spot in the South American nation\u2019s election and spooked investors.\u00a0 But Bitcoin […]<\/p>\n","protected":false},"author":2,"featured_media":138168,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-138167","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/138167","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=138167"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/138167\/revisions"}],"predecessor-version":[{"id":148177,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/138167\/revisions\/148177"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/138168"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=138167"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=138167"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=138167"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}