Depreciation of the peso, difficult access to the dollar, high inflation, strong exchange controls and that Argentine need to always be stretching income, are some of the factors that specialists indicated when talking about the country as the main crypto ecosystem of the region and one of the largest in the world.
Cryptocurrencies vs Argentine inflation
The consultant Focus Market Y Buenbit produced a comprehensive report entitled “Buenbit Cripto Index”, where they compiled the performance of the main cryptocurrencies in the world throughout 2021.
The figures expressed in the investigation are conclusive. While the Accumulated CPI to November of this year was 45.4%, the main cryptocurrencies had a real yield in pesos of:
- BTC: 74.13%
- ETH: 90.62%
- BNB: 24,78%
- SOL: 99,35%
- ADA: 92%
- USDC: 24.8%
- LUNA: 99,54%
- DOT: 89,59%
- AVAX: 97,75%
Regarding the bitcoin behavior, from the report it is explained that, to cite an example, its value “at current prices for the period of November 2020, a value of $ 3,159,760 (USD Historical BTC / DAI) and for November 2021 (USD Current BTC / DAI) it was $ 12,212,843“.
“Now, if we take these values in real terms we can see that it yielded 74.13% (deflated value). That is, this cryptocurrency not only generated an inflation-adjusted return of more than 70% but, if we compare it with the different CPIs, this value was always ahead, thus observing a positive real investment in inflationary terms “, highlights the investigation.