News - Will Bitcoin soon become an official means of payment in Argentina?

By Ted Maas

Will Bitcoin soon become an official means of payment in Argentina?

Bitcoin (BTC)
Crypto acceptance

There has long been speculation about the introduction of Bitcoin as a means of payment in Argentina. A meeting with El Salvador fuels the rumors.

Argentina's securities regulator CNV held a meeting with El Salvador's National Commission for Digital Assets (CNAD) to discuss the possible introduction and regulation of Bitcoin in both countries. The CNV was particularly interested in El Salvador's experience since the introduction of Bitcoin in 2021, according to the press release.

The results are mixed - according to the only representative survey to date (2022), only five percent of the population uses BTC as a means of payment. With the election of Javier Milei, many Bitcoiners in Argentina are hoping for a situation similar to that in El Salvador. Bloomberg wrote an interesting article on whether Bitcoin will soon become a means of payment in Argentina: Why crypto is booming in Argentina.

Indeed, there are already signs pointing to this: those who sign contracts in Argentina no longer have to accept only the national currency. Bitcoin may also be included in the contract. Moreover, a state-owned company recently partnered with the mining company Genesis to mine Bitcoin using burning gas.

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