BTC is breaking out towards new all-time highs in Argentine pesos, only a question of time until people there start using BTC as a hedge to hyper-inflation.

While we may all still be struggling at the upper bottom at the BTCUSD charts, in other countries Bitcoin is already way further in price-action. This is very normal to happy and all those headlines of “BTC hit a new ATH in XY country“ while you look at the charts and see how it is nowhere near ATHs, are taking the local currency chart.

I feel like we may all way too often use the BTCUSD chart but that is in reality no golden standard, you could exchange that USD for literally any currency as 1 BTC will always remain 1 BTC.

​

BTC-pesos chart from CoinBeasts on Twitter

Peso-EUR chart

Thus, in Argentina BTC is now marching towards a complete new all-time high for the first time since November 2021 just like everywhere else. The reason for that is a massive underperformance of their local currency which is hitting all-time lows in comparison to all big currencies like EUR and USD and now it seems like it will do with BTC too.

​

The hyperinflation in Argentina is so bad that they even had to introduce a new 2000 peso banknote in February of this year. All of that will obviously drive people to alternatives, one of them without a doubt will be BTC. As the government can regulate heavily on the use of EUR and USD, they can not really “check“ whether you hold your money in a digital BTC as a safety.

Hope the people in Argentina realise that BTC may be a good alternative or even hedge as a store of value while the pesos keeps falling further literally every week.