Bitcoin is now Argentina’s most valuable currency ever, following the surprise victory of crypto-friendly Javier Milei in Argentina’s presidential primary.
Bitcoin has remained steady, reaching an all-time high of 10.2 million YARs yesterday, according to data from CoinGecko, as the peso fell.
That figure has since dropped to $10.1 million. The record high comes as the country is suffering from some of the highest inflation in the world and the peso is rapidly losing value.
However, digital assets are popular in the country, with Argentina ranking 10th globally in cryptocurrency adoption last year, according to Chainalysis.
It was previously reported that Argentina’s presidential candidate Javier Milei is a liberal candidate.
Advocating the abolition of the central bank and a strong supporter of bitcoin, he is in front of Argentina’s presidential primary election on Sunday.