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Uday Kotak questions peso's future as Argentinians flock to Bitcoin
Written By: Landmarc News Aggregator
- Updated Thursday Mar 21 2024
Uday Kotak questions peso's future as Argentinians flock to Bitcoin
With inflation soaring in Argentina, residents are turning to Bitcoin as a shield for their savings, with inflation rate increasing to 276.20 per cent in February from 254.20 per cent in January 2024.
Billionaire banker Uday Kotak has raised questions about whether the cryptocurrency might be a better option compared to the Argentinian peso.
"When countries manage macro badly, savers move to protect the value of their savings. Traditionally it was gold. Now bitcoin too! While I am not convinced about bitcoin, would it not be better than the Argentinian peso with 276% inflation?" said Kotak expressing his thoughts on X.
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