[gus_massa]

[Hi from Argentina!]

A volatile cryptocurrency can go up or down. A currency with a 2000% annual inflation can only go down.

Here in 1990 we get Pesos that was something like a stablecoin. The Economy Minister said "One Peso, [equal to] one Dollar". Ten year later the President said "The person who deposited dollars [in the bank] will receive dollars". Then ... https://en.wikipedia.org/wiki/1998%E2%80%932002_Argentine_gr...

[sushid]

I get that but again, it's not like these folks want to speculate with their life savings, right?

If that's the case, it seems like a stablecoin would be the right choice rather than BTC.

[gus_massa]

My guess is that they are using that for the working money of the business, that they keep only for a week or a month. (A 2000% annual inflation is almost 5% daily, so if you have to keep the money for two days it is better to convert to something else even if the conversion has a 10% spread.)

For long term storage, my guess is that they get some real dollars and keep them under the mattress or buy some real state.

[We never had here in Argentina this level of inflation for a so long time, so I have to guess. It is weird, because most of the time I can just say "Been there, done that.", but this is an exception.]