Bitcoin Gets MAJOR Approval In Argentina, Worked Into Contract Law!
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December 22, 2023 12:24 pm
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This is a major milestone for the status of Bitcoin in Argentina!
According to sources, Argentina’s Foreign Minister Diana Mondino has announced that Bitcoin has now been approved for use in contractually binding deals. Bitcoin has become officially recognized as a currency used in legally enforceable contracts.
Argentina’s native fiat currency has been suffering from long-term hyperinflation for some time now, as citizens of the country look for a way out of the inflationary environment.
Liberty-minded individuals celebrated the move. Crypto influencer Jack Mallers had this to say: “Argentina is plagued with a history of economic turmoil and uncertainty. The solution is adopting an open monetary system, within a distributed network, with a known monetary policy, and a fixed supply. Separate the money and the state.”
Argentina is plagued with a history of economic turmoil and uncertainty.
The solution is adopting an open monetary system, within a distributed network, with a known monetary policy, and a fixed supply. Separate the money and the state.#Bitcoin is hope. #Bitcoin is freedom. 🇦🇷 https://t.co/FYkFzZJTtQ
— Jack Mallers (@jackmallers) December 21, 2023
“We ratify and confirm that in Argentina contracts can be agreed in Bitcoin.” 🇦🇷
h/t @milessuter https://t.co/MYe41T48bi
— Peter McCormack🏴☠️ (@PeterMcCormack) December 21, 2023
Maggie Anders commented: “Argentina is moving towards total freedom of currency, now allowing contracts to be made in Bitcoin.”
Argentina is moving towards total freedom of currency, now allowing contracts to be made in Bitcoin. https://t.co/83i7BSH5Nq
— Maggie (@LibertyAnders) December 21, 2023
Watcher Guru explained:
Over the past year, the Argentinian economy has struggled mightily. Along with massively high inflation at over 140%, the citizens of the nation sought a new direction.
Subsequently, they opted to follow the regime of unconstitutional candidate Javier Milei—a pro-Bitcoin candidate who is already implementing major changes.
“This is amazing. Argentina has decided to NOT take the forced, “legal tender” route for Bitcoin. They are allowing all legal contracts to be executed in the currency of their choice, which includes bitcoin. This is the way to do it. Let the currencies fight to the death,” Adam Simecka remarked.
This is amazing. Argentina has decided to NOT take the forced, "legal tender" route for #Bitcoin.
They are allowing all legal contracts to be executed in the currency of their choice, which includes bitcoin.
This is the way to do it. Let the currencies fight to the death. https://t.co/RexjCn24r6
— Adam Simecka (@AdamSimecka) December 21, 2023
Bitcoin stands in stark contrast to Argentina’s struggling fiat currency, according to Bein Crypto:
During the last few months, Bitcoin experienced a significant surge in price. It witnessed an increase of approximately 65.57% over the past three months, with a 20.41% jump in the last 30 days. At the time of publication, Bitcoin’s price is $43,847.
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