While the whole world watches as the general numbers of Bitcoin downloads go down, Argentina is fighting this negative tide. The country’s share of global cryptocurrency downloads almost tripled between June and July, going from 1% to nearly 3%.
And there’s more: in the ranking of the top 50 countries connected to Bitcoin, the South American nation is the only one that has increased its rates this month.
Our favorite virtual currency is becoming extremely popular in Argentina, mainly due to some familiar reasons that 99Bitcoins already talked about. The degradation of the Argentinian Peso, the raising of the capital controls and the extremely worrying inflation level, that is crippling the country’s economy, make cryptocurrency look like an amazing exit for the Argentinians.
The worst part is that the local government, headed by the President Cristina Kirchner, keeps trying to hide the numbers and implementing controversial and rather debatable measures. Resolutions like forbidding the citizens to exchange their Pesos – directly or through an offshore purchase -, only makes the black market grow and pushes some tech-savvy Argentinians towards Bitcoin.
No wonder the cryptocurrency meetups in Buenos Aires are such a success…