As nation’s inflation tops 160%, country looks to digital assets

By December 18, 2023

Argentina’s annual inflation rate surpassed 160% in November, faster than expected and the highest monthly figure in 2023.

The data is the first inflation statement since the country’s new President was inaugurated. Newly elected Javier Milei has made clear his intentions to right Argentina’s economy, and the government recently devalued the peso more than 50% as part of a wider effort to stabilize the economy.

While this occurred, Bitcoin hit new all time highs in the country.

This bitcoin adoption had been widely expected following the election, which saw pro-Bitcoin candidate Milei emerge.

Digital asset adoption is also expected being furthered with launch of the USA-UAE Alliance™ this week.

The USA-UAE Alliance™, which says it will “combine the collective interest of the blockchain communities and impact-related investments to grow a global network of economic activity that is impactful, profitable, and sustainable”, was founded by Edward Cullen of Crescite Innovation Corporation and Michael Amatulli of MVNM.

Said Edward Cullen, CEO of Crescite Innovation Corporation, “The USA-UAE Alliance™ is the latest example of international collaborators coming together and using blockchain technologies for economic growth and social good.”

Its blockchain business forum will hold its global event on March 6th at the Emirates Financial Tower in Dubai. The organization will also host a fireside chat at Georgetown University on January 26th, which will include speaker Hester Peirce, Commissioner of the United States Securities and Exchange Commission. 

Peirce is an American lawyer who previously served as the director of the Financial Markets Working Group at George Mason University’s Mercatus Center.

Featured photo of USA-UAE founders Edward Cullen and Michael Amatulli