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On March 20th, according to Bloomberg, Argentinians are buying Bitcoin to protect themselves from the impact of 276% inflation, instead of rushing to convert pesos into dollars, which overturns a long-standing strategy that has made this crisis-prone country one of the most dollar-centric regions in the world. In Argentina, the purchase of Bitcoin has reached close to the highest weekly trading volume on the local cryptocurrency exchange platform Lemon in nearly 20 months. Lemon is one of the most popular trading platforms among retail customers in this South American country, and Argentina is one of the countries with the highest adoption rates of cryptocurrencies globally. |
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