WHY ARGENTINA HAS NOT BECOME ADDICTED TO BITCOIN?

The world economy is experiencing turbulent times, and the soil of emerging countries is beginning to tremble. Donald Trump wants a strong dollar, and is determined to make America great again.

But only to the United States.

The rise in interest rates, and the greater strength of the dollar, has translated into a growing weakness for the Argentine peso, which plunges downhill as interest rates and inflation soar. The Argentine government has requested funding from the IMF, which will be accompanied by a plan of shock that has caused protests and mobilizations throughout the country.

But despite inflation and 60% interest rates, the adoption of Bitcoin does not skyrocket.

Why does this happen?

It seems that the necessary recipe for the hyperbitcoinization of the world goes through a mixture of unbridled inflation and lack of alternatives. And this is where the crux of the matter comes in, because the government of the liberal Macri allows its citizens to access foreign currencies, including the classic and strong US dollar.

In a country so accustomed to economic convulsions as Argentina, turning to the dollar in times of crisis is almost a classic. Therefore, Argentines prefer the known to the new, strange and volatile cryptocurrency.

How can Bitcoin succeed? I'll figure out a little.

The dollar is an international reserve currency, and that power gives it the ability to impose sanctions. For this reason, many nations seek an alternative to the yoke of the American currency; China tries to establish the Petroyuan, and like Russia, does not stop accumulating gold; Venezuela has opted for the Petro, and Iran is also studying to give life to a new cryptocurrency.

At the moment these countries have failed to hurt the US currency, but there is no doubt that the unpopularity of the great power and the multiple conspiracies plotted against it, will end up burying the hegemony of the dollar. We will have to wait for his fall, and with it, that of the corrupt and false FIAT money. In this scenario, in which it is probable that inflation is scattered throughout the world and the norm is the lack of alternatives, it is when hyperbitcoinization will take its toll, making its project successful and giving rise to mass adoption.