Argentina’s decision to impose currency controls has had a bullish effect on bitcoin in the South American country. With demand rising for the cryptocurrency, a bitcoin price premium has subsequently developed. The premium in Argentina now ranges between tens and hundreds of dollars. While the bitcoin price ranges between $9,887 and $9,905 on major global cryptocurrency exchanges, on Argentine...
Crisis in Argentina grips the headlines today. The Argentine peso (ARS) collapsed 30 percent in a matter of minutes yesterday while the stock market caved 48 percent before recovering. Bitcoiners quickly jumped on the narrative to promote the world’s dominant cryptocurrency. Many claimed that bitcoin was “surging” in Argentina while others encouraged locals to “find safety” in bitcoin. Bitcoin is...
Argentine markets suffered what can only be characterized as a bloodbath on Monday, subjecting the peso, bonds, and local stocks to brutal declines. The reckoning spread beyond the shellshocked country’s borders, and one Nasdaq-listed firm dubbed the “Amazon of Latin America” suffered a merciless correction. Populist Alberto Fernandez Creams Mauricio Macri in Argentine Primaries Argentina’s stock...
The Dow Jones continued to expose its vulnerability on Monday, as the index traded down 267 points (0.85%) to 26,019. Most of the damage was done at the opening bell, with protests in Hong Kong, a shocking vote in Argentina, and Jeffrey Epstein fallout adding to a potent soup of bearish news for global risk appetite. Truly Global Risks Weigh on Dow Jones As if the significant trade standoff...
By CCN: The bitcoin price surged overnight within touching distance of $9,000, carving out a new 2019 high. In just minutes, the bitcoin market cap pushed beyond $150 billion for the first time since May 11th, 2018. But Monday’s price explosion is even more impressive in Argentina. As CCN reported earlier this month, BTC blew past its all-time high against the Argentine peso in the latest rally...
By CCN: If you thought bitcoin’s recovery to $8,000 was impressive, take a look at these charts below. While most traders are focused on bitcoin’s price in dollars, the recent surge has propelled bitcoin to all-time highs in Argentina and Sudan’s local currencies. Even if you bought the top of 2017’s bitcoin bubble in Argentine pesos, you’d be in profit right now. As for the Sudanese pound, if...
Popular cryptocurrency exchange OKCoin has recently revealed, through a press release shared with CCN, that it expanded to the Latin American market, with a platform that’s set to let users trade top cryptocurrencies against local fiat currencies. According to the release, OKCoin’s expansion to Latin America comes after it became a fully licensed platform to operate in the region. Initially, it...
With inflation in Argentina expected to rise above 40 percent before the close of the year, the demand for bitcoin in the South American country has surged, resulting in cryptocurrency ATM firms projecting a large increase in the number of devices they plan to install in the country. Argentina Prime Real Estate for Bitcoin ATMs Currently, there are only two bitcoin ATMs in Argentina, both of them...
Argentina’s largest futures market is getting ready to dip its toes into the bitcoin ecosystem. As Bloomberg reports, the Mercado de Termino de Rosario -- more commonly known as Rofex -- is preparing to formally announce the addition of digital currency services to its platform. Following months of conversations, Rofex executives have created a preliminary framework that reportedly includes...
Xapo, a bitcoin wallet that claims the largest capitalization in the bitcoin industry and a reputation for not fearing controversy, has jumped into Argentina’s battle with Uber by allowing Uber Argentina to accept Xapo card payments. Uber sent a tweet on July 3 saying “Pay your trips with Bitcoin! Loading your card @Xapo obtains a $ 30 discount on your next trip without code." Xapo: No Official...
The use of bitcoin has more than doubled in the past year in Argentina as government controls have delivered economic stagnation and double-digit inflation, according to the London, U.K.-based Financial Times. The government has restricted access to foreign currency and created an overvalued currency exchange rate. One small business owner, the owner of a budget hostel in Buenos Aires, has found...
BitPagos, the company that is trying to help merchants in developing countries who wish to escape their local fiat currencies, has announced a new round of investments from the likes of Pantera Capital, Tim Draper, Barry Silbert, Boost Bitcoin Fund, and more. This merchant processing service first launched out of the Boost.vc startup incubator, and it has quickly turned into one of the most...
While BitPay and Coinbase are bringing Bitcoin solutions for merchants in the United States and other western nations, BitPagos is focusing on a part of the Bitcoin ecosystem that may actually be more important in the early days of Bitcoin adoption. Many Bitcoin critics like to point out the fact that most merchants immediately exchange their bitcoins for dollars after receiving them as payment...
Many Bitcoin critics don't think bitcoins could ever become a viable form of money because the price is far too volatile. While this may be true in the United States and parts of Europe, there are certain parts of the world where people are in desperate need of a new, decentralized form of money. The US Dollar/Argentina Peso exchange rate was the Chart of the Day at Business Insider as it lost...
According to the Associated Press, the government of Argentina is getting ready to add more restrictions to online purchases from foreign countries. Argentines are now limited to two purchases per year from outside the country, and they will have to fill out a large amount of extra paperwork if they want to go beyond that limit. Purchases that force an individual to crossover the maximum...