Argentina's inflation rate is 50%. Why are they not all buying tons of Bitcoin?

I live in the USA, where the inflation rate of 7% is freaking everyone out. But Argentina's inflation rate has been 50% or more for the past few years. I cannot understand why people there would not be rushing to turn their pesos into Bitcoin. Even with the volatility and price drops of Bitcoin, it seems to be an obviously MUCH better place to put your money than the Argentine peso.

https://www.msn.com/en-gb/money/other/argentina-e2-80-99s-dystopian-reality-where-inflation-runs-at-50-per-cent/ar-AASYk8K



Submitted January 30, 2022 at 11:19AM by Effective_Positive_8 https://ift.tt/zn4XFxpwh

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