Argentina President Alberto Fernandez has indicated his support for digital assets. He also argued that there is no reason to push back against the emerging asset class.
Alberto Fernandez, the President of Argentina, is optimistic about Bitcoin (BTC/USD). In an interview with a local news outlet yesterday, Fernandez talked about the COVID-19 pandemic, inflation, the environment, and the legalization of marijuana, among other issues.
He responded to a question about whether to explore a CBDC or recognize Bitcoin as legal tender as El Salvador. Two months ago, El Salvador became the first country to adopt bitcoin as a legal tender.
“I don’t want to go too far out on a limb […] but there is no reason to say ‘no’,” Fernando stated, adding: “They say the advantage is that the inflationary effect is largely nullified”, he added.
The President added that the Argentine population is increasingly considering BTC an inflation hedge. Although, Fernandez pointed out that the crypto industry is still in its early days. Fernandez said it is vital to exercise caution while dealing with crypto because the asset class is largely unfamiliar.
According to him, many people across the globe have similar concerns. The concerns explain why the project or system has not expanded further. Nonetheless, he said it is worth considering crypto adoption.
Although Alberto is quite open to the idea of the CBDC, BRCA is not. Speaking during the Argentine Institute of Executive of Finance’s Digital Finance Forum, Pesce took an aim at cryptocurrency. He characterized digital assets as a threat to economic stability and foreshadowing tighter regulations for the sector.
