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Message
re: El Salvador’s Bitcoin Holdings Up Over 40%
Posted on 3/8/24 at 11:23 am to The Baker
Posted on 3/8/24 at 11:23 am to The Baker
They have approximately .5% of their GDP in BTC, but good for them.
I have no live lost for the IMF, but I can understand that they want countries to avoid assets that have a tendency to swing down 80% or more each cycle.
I’m well aware of the long term growth of BTC, but the volatility is an understandable concern.
I have no live lost for the IMF, but I can understand that they want countries to avoid assets that have a tendency to swing down 80% or more each cycle.
I’m well aware of the long term growth of BTC, but the volatility is an understandable concern.
2
Posted on 3/8/24 at 11:26 am to slackster
quote:
I’m well aware of the long term growth of BTC, but the volatility is an understandable concern.
Argentina has defaulted on its debt around 8 times. Surely, now that they can’t utilize digital assets, they’ll finally stabilize.
Posted on 3/8/24 at 7:49 pm to slackster
quote:
I’m well aware of the long term growth of BTC, but the volatility is an understandable concern.
I believe the large majority of cryptos used in Argentina are stablecoins.
quote:
Dealing with a severe economic crisis and plunging peso, 60% of Argentine crypto purchases on Bitso were for dollar-based stablecoins USDT and USDC and just 13% of buys were for bitcoin.
This compares to Colombia, Brazil and Mexico, where stablecoin purchases ranged between 31% and 40% of total crypto buys.
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