Martin Tetaz, a member of the Radical Civic Union in the Buenos Aires legislature, suggested people save their money in cryptocurrencies rather than US dollars, in response to a tweet from another member of the the Argentinian legislature from the same city, Ramiro Marra. Tetaz's suggestion comes in light of the country’s soaring inflation rates above 100% in 2021 and the citizens’ search for ways to safeguard their savings. With Bitcoin prices reaching an all-time-high in Argentinian pesos, the question of whether to dollarize the Argentine economy has become prevalent, with some members of parliament strictly opposing the move. Tetaz does not only oppose the dollarization of the economy, but is also a believer in cryptocurrency, having bought Bitcoin himself as an experiment in 2021 and later in the same year sold a USD 63,000 worth of Bitcoin. The current president, Alberto Fernández, has also shown some positive attitude toward crypto, having called it a "hard currency" during a 2021 interview. This will likely leave the possibility open for other crypto-friendly politicians, such as the presidential hopeful Javier Milei, to gain more influence in the country in the future years.



Other News from Today