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Reuters

Bitcoin lures inflation-weary Argentines despite crypto crash

In the Crypstation cafe in downtown Buenos Aires, trendy young Argentines order their lattes and pastries surrounded by screens with real-time cryptocurrency price quotes and a huge neon Bitcoin logo. Savers in the South American nation are increasingly being drawn to cryptocurrency to offset years of painful inflation, now running near 60% – shrugging off a recent market crash and El Salvador’s troubled experiment with virtual tender. “The local environment is pushing people to protect their capital in cryptocurrencies and so we see growth speeding up,” said Mauro Liberman, 39, one of the founders of the cafe, which is aimed at promoting the use of digital tender.