RATE Group | Bitcoin Trades at Large Premium in Argentina as Dollar Purchase Restrictions Set In
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Bitcoin Trades at Large Premium in Argentina as Dollar Purchase Restrictions Set In

30 Oct Bitcoin Trades at Large Premium in Argentina as Dollar Purchase Restrictions Set In

Posted at 20:21h in Bitcoin News by

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Bitcoin is trading at a large premium on cryptocurrency exchanges in Argentina. Demand remains high after the nation’s central bank announced a further tightening of a limit on the number of dollars an individual can purchase from it each month.

The policy essentially forces the people of Argentina to either sink of swim in an economy with a less than perfect track record. Well, it would, were it not for Bitcoin.

Price Premium Shows Bitcoin Demand Healthy in Argentina

According to data taken from local cryptocurrency exchange Ripio, Bitcoin is trading at a large premium in Argentina. Whereas Coinmarketcap has the price of the leading digital asset at around $9,150 at the time of writing, Bitcoin is currently selling at the South American trading venue for ARS$633,862 ($10,578).

The nation has been in the grips of successive economic crises which have seen the value of the peso plummet. In an attempt to stabilise the currency, the central bank first limited the amount of dollars an…

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