What’s Happening With Crypto in Argentina?

Argentina is one of the countries with the highest rates of inflation in the world -  currently hovering at close to 100%.  The nation is also one of the countries with the biggest population of crypto enthusiasts. In this environment, digital currencies can be perceived as a safer bet than the peso.  This popular enthusiasm for digital tokens has faced pushback from the country’s central bank. But ever since the crypto winter has stepped up volatility, and exchanges like FTX collapsed, many Argentinians likely feel squeezed: with fewer ‘safe’ places to protect their life savings from inflationary pressures. Bloomberg’s Nacho Olivera Doll reported on a recent study by Buenos Aires-based Wunderman Thompson - it found that nearly two-thirds of the nation’s crypto investors use digital currencies as a way to protect their savings. He joins this episode to discuss. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.