The popularity of NFTs among citizens is growing in Venezuela and Argentina, while Colombians use Bitcoin as a hedge against devaluation. Spanish citizens use cryptocurrencies to have assets that no state controls and a Mexican billionaire also advises buying BTC.
After a hectic week in El Salvador, the pioneering cryptocurrency continues to be the leading actor in the Central American country. The government decided to buy more Bitcoin (BTC) despite criticism coming from international agencies.
Federal Blockchain Stops Working and Popularity of NTFs Grows in Argentina
The Argentine Federal Blockchain, which gathers companies and institutions from the South American country, has had no activity for more than a month. That situation, which has not changed yet, made citizens question its usefulness.
NFTs are currently gaining strength in Argentina in both the sports world and the entertainment world. In the last week, the national soccer team launched its second token collection. In the case of artists like Nikki Nicole and Babasónicos, they will do the same with the help of the Ripio exchange.
Colombian Peso Loses Value and Bitcoin Emerges as Hedge Against Devaluation
The price of the US dollar increased and approached COP 4,000 for the second time this year. Since citizens use various online payment channels, Bitcoin could emerge as an alternative for Colombians to hedge against devaluation.
Former presidential candidate Gustavo Petro, who recently stated cryptocurrency mining was harmful due to its energy consumption, might not like that.
El Salvador Buys BTC Cheaply, and International Agencies Express Concern
The government of Nayib Bukele recently spoke about its management of resources and the purchase of BTC. Taking advantage of the new drop in the price of the pioneering cryptocurrency, they added another 100 BTC to its coffers.
However, not everyone has welcomed how Bukele has driven the adoption of Bitcoin in the country. The International Monetary Fund (IMF) warned of the risks of Bitcoin, and the Bank of England expressed concern about what happens in El Salvador.
Spanish Citizens Use Bitcoin for Profit and CNWV Worries About Suspicious Activities
Instead of waiting for their governments to take measures as Bukele did, people use cryptocurrencies with no existing law. Regarding Spain, a survey reveals that most respondents seek profit or the possibility of having assets that no state controls.
The National Securities Market Commission (CNMV) expressed concern about advertising dedicated to platforms investigated for suspicious activities.
Mexican Billionaire Advises Buying Bitcoin and Soccer Team Could Pay Players with Cryptocurrencies
Mexican billionaire Ricardo Salinas Pliego recently advised people to buy Bitcoin now, after criticizing the monetary policy of the United States. The North American country has inflated the issuance of banknotes to levels never seen before, which he considers irresponsible.
In addition, renowned Mexican soccer club Tigres UANL joined with an exchange to explore the payments with Bitcoin for tickets and souvenirs. They could even think of the possibility of paying their players with cryptocurrencies instead of fiat money.
The Popularity of NFTs Grows and More Venezuelans Buy With Cryptocurrencies
Data from Finder reveal that at least a third of the Venezuelan population knows of NFTs. The firm indicated that those tokens gained much ground as a source of income in countries undergoing economic difficulties.
The Venezuelan government recently immortalized the Guinness Record obtained by the National System of Orchestras with an NFT.
The use of Bitcoin and other cryptocurrencies as an alternative for payments in Venezuelan shops has grown. Many people have also experienced paying with those assets on the streets of Caracas.
By Alexander Salazar
