EddieJayonCrypto
22 Dec 23
Argentina has accepted Bitcoin as a currency for contracts and payments, following the election of crypto-friendly President Javier Milei and a sharp devaluation of the local currency. BTC prices in Argentina have surged to all-time highs, leading to rumors that the country may follow El Salvador in...
Argentina has accepted Bitcoin as a currency for contracts and payments, following the election of crypto-friendly President Javier Milei and a sharp devaluation of the local currency. BTC prices in Argentina have surged to all-time highs, leading to rumors that the country may follow El Salvador in making Bitcoin legal tender in 2024. In related news, El Salvador has passed a law granting citizenship to Bitcoin investors, with the country's Bitcoin stash now back in the green at $122 million. Diana Mondino claimed that a decree legalizing the use of certain currencies in contracts and for payments would also apply to Bitcoin.
The move follows the election of crypto-friendly President Javier Milei on November 19. The “Bases for the Reconstruction of the Argentine Economy” decree, passed on Dec. 20, did not specifically mention BTC but included provisions for currencies not recognized as legal tender, with Mondino confirming Bitcoin in her announcement. The minister also mentioned that you could use “crypto” along with cows and liters of milk to settle contracts. BTC prices in local currency have surged to all-time highs this year. Rumors that Argentina may follow El Salvador in making Bitcoin legal tender in 2024 have been sparked by these developments. In El Salvador, Congress approved a migration law granting citizenship to foreigners who make BTC “donations” to government social and economic development programs. El Salvador’s Bitcoin stash is now back in the green at $122 million according to the Bukele BTC investment tracker.
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