Argentinians Turn To Bitcoin as Corrupt Government Announces Another Default

The demand for Bitcoin in Argentina rocketed yet again after the government announced it would be defaulting on payments yet again.

As a result, long-suffering Argentinians were quick to start buying BTC as a devaluation of the peso was expected imminently.

Corrupt Argentinian Government Continuously Default

Argentina has long had economic troubles due to government corruption, and this latest announcement is no surprise. And the only way it can avoid another default is if it manages to restructure billions of dollars with foreign creditors.

Many bondholders were quick to voice concern with the situation, and the people were just as quick in their uptake of Bitcoin, as a record number of peso-BTC transactions were recorded. Read More at Minedhash

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