Small businesses in Argentine turning to Bitcoin – Bitcoints

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Published on July 19th, 2015 | by bitcoin

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Small businesses in Argentine turning to Bitcoin

Under the leftist government of President Cristina Fernández, no immediate change is expected in Argentina’s complicated economic conditions, which have seen the use of bitcoin more than double over the past year, mainly among small businesses.

This represents much faster growth than elsewhere in Latin America, according to bitex.la, a regional bitcoin exchange.

That has triggered a heated debate over how to defuse a situation that has caused an investment drought in Argentina.

José Urtubey, vice-president of the Argentine Industrial Union (UIA), a powerful business chamber, doubts that shock therapy will work.

More and more people here are looking for ways to get around these problems, and bitcoin is the perfect solution,” he says.

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