A recent study has revealed a significant level of cryptocurrency ownership among Argentines, attracting attention both regionally and internationally.
Cryptocurrency Ownership in Latin America
According to the study, 19.8% of Argentines own cryptocurrency, surpassing 18.6% in Brazil and leaving El Salvador below 15%. The report highlights that over 85% of all cryptocurrency holders in the region are concentrated in Argentina, Brazil, Chile, Colombia, Mexico, and Peru.
Reasons Behind the Increasing Interest in Cryptocurrency
Analysts attribute the increase in interest in cryptocurrencies to economic instability and limited access to traditional banking services in several countries. Bitso Argentina General Manager Julian Colombo emphasizes that the public's distrust in traditional finance contributes to the growing interest in cryptocurrencies as alternatives for savings and transactions.
Impact on International Policy
Argentina's crypto boom has garnered international attention. In July, a delegation of U.S. lawmakers visited Buenos Aires to discuss Argentina's approach to taxing crypto assets and recent advances in stablecoin oversight and exchange regulations. These discussions might serve as examples for other countries looking to foster crypto growth.
In summary, the study demonstrates a significant increase in interest in cryptocurrencies in Argentina, which may influence other countries and their financial systems.
