Crypto's perfect use case is right now in Argentina

Quick Take

Despite Argentina grappling with an annual inflation rate surpassing 100% and enduring strict capital controls, many citizens still opt to trade currency via illicit “cuevas” and maintain bundles of near-worthless cash, rather than embracing cryptocurrencies.

Episode 40 of Season 5 of The Scoop was recorded with The Block's Frank Chaparro, Christiana Sciaudone, and Nathan Crooks.

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Despite Argentina grappling with an annual inflation rate surpassing 100% and enduring strict capital controls, many citizens still opt to trade currency via illicit "cuevas" and maintain bundles of near-worthless cash, rather than embracing the potential benefits of cryptocurrencies.

In this episode, The Block's Nathan Crooks breaks down his research into why crypto adoption in Argentina is not more pervasive, and The Block editor and Argentinian resident Christiana Sciaudone shares her local perspective on the Argentinian currency crisis.

During this episode, Chaparro, Crooks, and Sciaudone also discuss:

Why Argentina has multiple exchange rates for U.S. dollars
How locals think about different cryptocurrencies
Crypto businesses building in Argentina

This episode is brought to you by our sponsors Circle and CleanSpark.

About Circle

Circle is a global financial technology company helping money move at internet speed. Our mission is to raise global economic prosperity through the frictionless exchange of value. Visit circle.com/Scoop to learn more.

About CleanSpark

CleanSpark (NASDAQ: CLSK) is America’s Bitcoin Miner™. Visit cleanspark.com/theblock to learn more about the CleanSpark way.