Bitcoin (BTC) has hit an All-time High against the Argentine Peso, with 1 BTC worth about 394,000 Pesos – the kind of prices seen in the last major bull run of late 2017.
The Argentine Peso, meanwhile, has been suffering greatly, performing increasingly worse against the US Dollar. The reports are that the decline is a result of the uncertainty in the upcoming presidential election.
Amundi, a global asset manager, has said that the prices are reacting to the possibility that former leftist president, Cristina Fernández de Kirchner, may return to power as deputy to presidential candidate Alberto Fernández.
Billionaire Tim Draper has recommended to the President of Argentinia to change the Argentine Peso to Bitcoin.
