Michael Saylor, co-founder and chairman of MicroStrategy, has emphasized the importance of Bitcoin for Argentines against inflation and financial instability with his tweet “If you live in Argentina right now, you need Bitcoin.”
Reuters reported that Argentina's economy is deteriorating because rising inflation is affecting the cost of living and rising poverty in the country, which is facing one of the worst droughts in its history that has severely affected agriculture.
The economic instability in the country is increasing the adoption of crypto day by day, and crypto exchange ads appear everywhere. According to Deel, a payroll company operating in 150 countries, the percentage of employees in Argentina who receive their salaries in cryptocurrencies is higher than anywhere else in the world. The reason for this is a local law that allows companies to pay up to 20% of wages in kind.
