The corona virus pandemic, the economic crisis pandemic and the uncertainty pandemic are becoming normal in the lives of the Argentines. Last week, the blue dollar rose like never before. How much has the Bitcoin dollar closed today?
The corona virus has already infected more than 3,600 people in Argentina, while the death toll is approaching 180 and quarantine seems to have no end.
Everyone pauses, but nothing stops
As we have repeated countless times since the beginning of the world limitation, we are or should all be a kind of break in our homes.
However, this did not mean that the economies stopped or the problems disappeared, on the contrary. Not only in Argentina, but worldwide seems to be worse.
The oil price (WTI) has reached negative levels for the first time in human history. There are already over 20 million unemployed in the United States alone. We are facing the worst global economic crisis in recent history.
The number of infected is rapidly approaching 3 million people. Meanwhile, billions of dollars are being injected every day that have been created without any help to save the world’s largest companies, while small businesses are gradually disappearing.
The worst time for Argentina
As expected, Argentina is not an isolated case. On the contrary, the coronavirus pandemic could not have found a worse time for Tierra del Fuego.
For those who don’t know, Argentina is experiencing one of the most difficult moments in recent years. An internationally heavily indebted country without the ability to pay its debts, extremely polarized, with enormous mistrust of the public and investors, and increasingly high inflation.
And in the middle of all these situations, he was struck by the quarantine and the corona virus. It definitely looks like a never ending horror film.
The blue dollar doesn’t stop
In the midst of the economic crisis in Argentina and with the rudder change in economic policy, the Argentine government reinstated the strict rules for Argentineans’ purchase of foreign currencies such as the dollar.
This has made the dollar a scarce commodity and therefore expensive. Well, it is one of the best ways for the population to protect their savings and the value of work. For this reason, the government has set a limit of $ 200 per Argentine, with an additional tax of 30% when purchased with an international debit card or purchased for personal benefit.
As expected and as is the law in humanity, any market that you regulate against consumers, as in this case, immediately creates a black market. This is the case with the blue dollar used by those who need to buy more than $ 200.
This has traveled between 118 pesos and 120 pesos per dollar. Is this pushing the Argentine population to buy BTC?
How much has the Bitcoin dollar closed today?
In response to everything we’ve mentioned above and more, Argentinians are turning to cryptocurrencies and cryptoverses, especially Bitcoin (BTC).
The dollar / bitcoin index in Argentina is a natural reaction to the restrictions that various governments have imposed on the sale and purchase of the US dollar. This is the main accommodation for many Argentinians who don’t want their savings to be reduced over time.
The price of Bitcoin (BTC) on two of the most important Argentinian crypto exchanges is 858.945 Pesos for buying in Ripio and 865,337 Pesos to SatoshiTango.
This means that in Argentina, the Bitcoin dollar price closed at the official exchange rate of $ 12,800 and $ 12,900.
On conventional crypto exchanges, the value of each BTC is around $ 7,500.
As a result, the dollar / bitcoin index is currently valued at $ 114.5 and $ 115.4 respectively on this important crypto exchange.
If we compare it to the value of the blue dollar, which hovers around 120 pesos. We can conclude that Bitcoin seems to be a good option if you need more than $ 200 or want to escape the tight control of the current government.