El Salvador’s national Bitcoin chief has been orange-pilling Argentina – Cointelegraph Magazine

 

It takes more than 10 hours to fly from El Salvador to Argentina, but Juan Carlos Reyes’ recent flight may be one of the most important of his life.

It may also have global significance, not that Reyes can reveal too much about it at the moment.

The appointed President of El Salvador’s newly created National Commission of Digital Assets (CNAD), Reyes has just returned from Buenos Aires after high-level meetings with Argentina’s securities regulator, the National Securities Commission.

Speaking exclusively to Magazine, he is in a cheery mood, albeit diplomatic, when talking of a potential collaboration between the two Bitcoin-friendly countries.

“El Salvador multinational projects are set by the president; however, our two countries are talking about interesting opportunities and projects for the future. There is a lot of interest in common between our institutions and between the leaders of our nations, so I can say that you should stay tuned,” he says.

El Dr. Roberto E. Silva y Dra. Patricia Boedo se reunieron con el presidente de la Comisión Nacional de Activos Digitales de El Salvador, Juan Carlos Reyes. Abordaron la experiencia de ser el primer país en adoptar el Bitcoin como moneda de curso legal.https://t.co/rSFCE6miAe pic.twitter.com/UVh6dRlrU0

— CNV Argentina (@CNVArgentina) May 23, 2024

Let it not be forgotten that before El Salvador adopted Bitcoin as legal tender in September 2021, it was Argentina that seemed the most receptive and interested in Bitcoin, not least because of the country’s seemingly omnipresent inflation rate.

According to Statista, the peso’s inflation rate for 2024 is a whopping 250% and has been rising annually for the past seven years from 25% in 2017.

In October 2011, under the presidency of Cristina Fernández de Kirchner, Argentina introduced strict currency controls, making it very difficult for citizens to obtain U.S. dollars, the go-to hedge against the Argentine peso’s inflation.

Consequently, alternatives such as Bitcoin were naturally…

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