Can the Argentine peso and Bitcoin be considered money? Ramiro Raposo, VP of Growth at Bitwage, shared with Cointelegraph en Español some principles to keep in mind when talking aboutmoney”.
Regarding the peso, the legal tender in Argentina, Raposo explained: “Although the peso is volatile and sometimes makes us think that at any moment this currency will no longer serve as it is, it continues to be used, for example, as a means of exchanging goods. It is a very complicated concept, since this currency is instilled by a government towards the people and not vice versa like Bitcoin”.
Regarding Bitcoin, he added: “Bitcoin is already considered a kind of money by many people, and used as a means of exchange and a way to keep our earnings. That it is accepted worldwide I am not sure. Bitcoin’s problem is volatility, which makes it difficult to use as a stable medium of exchange.”.
Raposo stated: “Nowadays stablecoins are widely used as a form of money. There is a lot of demand for these, which is why many governments are already investigating to create their own encrypted currencies. Cryptocurrencies are here to stay, that’s for sure”.
When asked if Argentina will have its own CBDCRaposo commented: “I understand that Argentina is working on something, but I’m not sure if progress is being made on the project. It may be useful for the ease of not having to carry so much money, but the government will have more control over the movement of money between citizens”.
Disclaimer: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information presented here should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.
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