Argentina has again limited its citizens and businesses by imposing a $ 10,000 limit
According to a report published by Bloomberg on 1 September, the South American nation took this step to control capital because its local currency, the Argentine Peso, suffered heavy losses against major currencies such as the US dollar.
cryptocurrency-focused attorney Preston Byrne tweeted after the news - “Buy Bitcoin”
Argentinian were more inclined to bitcoin in the past few months, with trade volume increasing due to uncertainty around the country's economy. Cryptocurrencies were traded in the country for the last few months with a premium. Now, Argentina has imposed a limit on its citizens for $ 10,000, some expect the demand for bitcoin may increase as it is impossible to control and track. Argentinians are trading more in local currency on Peer to Peer crypto exchange Localbitcoins, according to the volume data. Such circumstances can also increase further, if this will happen, it may increase the demand for bitcoin globally.
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