Argentina’s President Calls Crypto a ‘Hard Currency’ that Can Fight Inflation

Argentina’s President Calls Crypto a ‘Hard Currency’ that Can Fight Inflation 101

Alberto Fernández, the President of Argentina, has made some remarkably bullish comments about crypto, noting that tokens may have the power to fight inflation and operate as “hard currency, somewhat” – although he sought to temper his musings by adding the caveat that he is not particularly well-versed in the world of decentralized digital assets.

The comments came during an extended video interview aired on the Caja Negra YouTube page operated by Filo News, and saw Fernández claim that crypto had the potential to “nullify inflation.” The latter has been an inflammatory subject in Argentina in recent years, where hyperinflation has dogged the economy, dragging the nation into a financial quagmire.

However, it appears that Fernández or his representatives were more than happy to talk crypto – and sought to stoke debate further by posting crypto-related excerpts from the interview on the President’s official Twitter account.

Fernández shared the following comment he had made in the video on the social media platform:

During the video, he spoke more about crypto, stating that the sector’s advance was now “irreversible.”

However, he repeatedly sought to underline the fact that crypto adoption-related matters needed to be treated with “care” and “caution” – and confessed that “in my case,” much about the world of crypto was “unknown.”

When pressed on the matter, the President stated:

He added notes of caution, too, remarking that “It’s also true that [crypto] creates insecurity, because there have already been [instances of] fakes and [illicit usage].”

But the message was still largely positive, as Fernández remarked:

He also reiterated that he had the “sense that somehow” it could “contain” the power to fight “inflationary” forces due to its ability to function “somewhat” as a “hard currency” – and explained that some form of qualified crypto-related progress was likely “worth the risk.”

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The President did not expand any further on the matter, but did also mention the fact that fintech-related laws were currently being considered as Buenos Aires is planning to regulate the crypto and blockchain sectors.

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John Lesley/ author of the article

John Lesley is an experienced trader specializing in technical analysis and forecasting of the cryptocurrency market. He has over 10 years of experience with a wide range of markets and assets - currencies, indices and commodities.John is the author of popular topics on major forums with millions of views and works as both an analyst and a professional trader for both clients and himself.

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