# Bitcoin lures inflation-weary Argentines despite crypto crash

> Argentines are turning to bitcoin as the peso has depreciated about 14% against the dollar this year and annual inflation rose to 58% in April. Capital controls limiting foreign exchange purchases to $200 per month are also encouraging crypto adoption, despite a recent crypto crash that pushed bitcoin to a 16-month low.

- Date: 2022-05-30 · published 2022-05-30T12:00:00.000Z
- Category: macro · region Argentina · magnitude low
- Page: https://feedsoft.ai/events/41668-bitcoin-lures-inflation-weary-argentines-despite-crypto-crash
- Commodities: [Argentine Peso (ARS per USD)](https://feedsoft.ai/c/USDARS.md)

## Why it matters

Persistent peso weakness and capital controls shape Argentina's import capacity and currency environment for agricultural trade. The story describes local monetary conditions rather than a direct change in grain, oilseed or feed supply or demand.

## Read by commodity

- USDARS: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/world/americas/bitcoin-lures-inflation-weary-argentines-despite-crypto-crash-2022-05-30/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.