The Argentine peso, the country’s national currency, is already highly volatile and subject to a raft of financial controls that make buying and investing with the currency increasingly onerous for everyday citizens.
In the 1990s, Argentina’s financial system was in dire straits, with citizens finding their lifelong savings vanishing and personal bank account completely frozen.
Currently, inflation’s year-on-year rate stands at more than 50%, a startling figure where a depreciating peso continues to pinch most Argentine wallets.
The vast majority of crypto enthusiasts are young and male, who boast advantages like a relatively stable income and a tech worker background.