South American Countries Are Turning to BTC

Argentineans are turning to Bitcoin to combat inflation and the depreciation of the Argentinean peso.

According to a study conduced by Americas Market Intelligence called “The Cryptocurrency Revolution in Payments in Latin America,” due to the fact that 37.3% of South America’s population is below the poverty line, the crypto provides them with insurance against inflation.

According to the document, crypto penetration in Argentina reached 12%, twice as high as in Peru, Mexico and other countries of the continent.

In addition, the amount of crypto payments by Latin Americans has almost reached half of credit card ownership, indicating Bitcoin’s impressive position in these countries.