Andragnes believes that it is better to adopt Bitcoin individually than to wait for governments to act deflationary. Fernández expressed openness to supporting a discussion about a bill on cryptocurrencies in Argentina.
Rodolfo Andragnes, president of the NGO Bitcoin Argentina, spoke about the recent statements of President Alberto Fernández. He said he did not imagine that a country so dependent on money printing would use cryptocurrencies against inflation.
Adragnes does not believe that Argentina’s economy will become deflationary simply by using Bitcoin.
This promoter of educational initiatives on Bitcoin distinguished between what cryptocurrencies offer and what governments like Argentina can do. While the Bitcoin code will not allow issuing more than 21 million units, central banks create national fiat currencies with complete freedom.
Since the issuance of Bitcoin is limited, governments cannot print it at will, as Argentina and the United States do with fiat money. The founder of the NGO Bitcoin Argentina explained the cryptocurrency avoids, thus being deflationary. He noted that the government could help fight inflation by reducing the printing of its national fiat currency.
The president of that organization added that it makes more sense to adopt this system globally. However, he considers that it is better to start with the individual decision of each person than to wait for the governments to act deflationary.
He stressed that accessing this store of value that does not depend on the issuance by each State is more sensible on a global and individual level. The opposite would be that the States could not print when they wanted to cover their debts or manipulate the price of their local currency.
Fernández Does Not Rule Out the Use of Bitcoin in Argentina
Argentine President Alberto Fernández recently said he did not rule out the possibility that his country used cryptocurrencies. However, he expressed he believes it is a matter of care as he does not quite understand how that fortune materializes.
Fernández gave his opinion on the recent adoption of Bitcoin as legal tender in El Salvador. He stated that it contributes to nullifying the effect of inflation while remaining a hard currency. Andragnes responded precisely to that statement, saying that the government should reduce its printing of fiat money.
The Argentine president had already granted permission to debate a bill focused on Bitcoin and other cryptocurrencies. If approved, that proposal would legalize the payment of salaries in cryptocurrencies. The national deputy, José Luis Ramón, said that the president gave his go-ahead for dealing with it in Congress.
The deputy spoke with attorney Camilo Jorajuría de León, a member of the NGO Bitcoin Argentina. The official told him that he had met with the president and informed him about his bill. In early July, the politician from Mendoza introduced in Congress the text Regime for the perception of wages in cryptocurrencies.
The president of Argentina knows the relevance of Bitcoin and other cryptocurrencies in the world economy. For that reason, the leader does not rule out the possibility of using it to fight inflation. However, Andragnes thinks that the government should first limit the issuance of Argentine pesos (ARS).
By Alexander Salazar
