Bitcoin’s 150% gains over the last two years in Argentine pesos is no match for the country’s 300% inflation in the period.
Highlights
- Argentina has grappled with hyperinflation for several decades due to failed policies that have led to budget deficits.
- Despite a 61.5% drop from $69,000, investors in Argentina have still managed to accrue gains of 38% when measured in the local currency.
- The answer to this discrepancy lies in the official currency rate for the Argentine peso, which is more intricate than most investors are accustomed to.
- However, one may encounter a different result when consulting Google or CoinMarketCap for Bitcoin’s price in Argentine pesos.
- This measure may also increase the cost of imports while boosting exports, with the goal of improving the trade balance.
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