Brazil and Argentina might just be experiencing their most liberating moment yet, as experts suggest Bitcoin could provide the perfect long-term remedy for their over-dependence on the US Dollar for bilateral trade. With its decentralized nature, Bitcoin could be the key to a brighter, freer future!
At this week’s Buenos Aires Summit, South America’s two biggest economies – Brazil and Argentina – announced their work on a common currency. In the latest development, these Latin American countries are eagerly exploring how this new shared denomination can benefit them! Let’s see how clever the two nations can be as they set about developing a new way of doing business.
Will Bitcoin Be The Solution?
It seems that the plan to introduce “Sure” (South) as a shared currency between two countries is a project that has much potential. While challenging the hegemony of the US dollar will be difficult in the long run and trust in fiat currency controlled by central banks an uphill task, this project could be instrumental in bringing nations closer together.
Bitcoin is hogging the limelight yet again as users across the globe look to liberate themselves from the restrictive world of fiat currencies in the face of rocketing debt and shrinking economic output. This month, Bitcoin’s price saw a whopping 33% rise since the beginning of 2023. On the flip side, the Fed intends to stay on the rate hike train as inflation still remains at an all-time high.
Bitcoin hit $23,300 today. Mainstream media is silent.
— Altcoin Daily (@AltcoinDailyio) January 23, 2023