Although the graph in the article shows rising in weekly trading volume of BTC against Argentine peso(ARS), this volume is still very small compared to that of other National Currencies. Currently the daily BTC/ARS exchange volume takes 48th place with only 0.0001 % of the total trading volume. For those who are interested in more detailed information here's the link:
https://www.coinhills.com/market/currency/
Certainly there can't be any impact on Bitcoin price, considering that the volume is so low.
https://www.coinhills.com/market/currency/
Certainly there can't be any impact on Bitcoin price, considering that the volume is so low.
It seems like they only track Localbitcoins. Are there not any centralized exchanges, or other P2P exchanges in Argentina? I'd agree, volume looks too low to have an effect on the broader market.
But if the Central Bank of one of the wealthiest countries in Latin America will start buying BTC diversifying their currency reserves, the situation may change significantly. We'll see.
Any source for these rumors about Argentina's central bank? I've seen this mentioned a few times, but never seen a source for it. Color me skeptical.
