NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Argentine Bitcoin Premium Shows Relativity of “Safe-Havens”

Rick Delafont
Rick Delafont
1 year ago
3 mins read
bitcoin argentina

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Bitcoin has been trading for a premium of between 8 and 28 percent on the Argentina-facing section of LocalBitcoins. The higher prices compared to those advertised by traders on the peer-to-peer marketplace from the rest of the world highlights that demand is high for Bitcoin in the South American nation.

With all the current talk of whether or not Bitcoin is worthy for use as a safe-haven asset, the LocalBitcoins figures highlight that a safe-haven asset is a very subjective concept.

You Might Not Need Bitcoin, Don’t Presume Others Share That Luxury

Figures highlighted by cryptocurrency analyst Mati Greenspan show that demand is high for Bitcoin in Argentina. LocalBitcoins, a longstanding peer-to-peer marketplace, shows the digital asset trading at eight percent more than it did on the digital currency exchange Bitstamp.

Although adverts on the peer-to-peer network almost always carry a premium (what’s the point in trading if you aren’t taking a profit?), to put the eight percent into perspective, the lowest price of a Bitcoin on the UK-facing version of the website is less that 0.5 percent more than the Bitstamp asking price.

Bitcoin trading higher in Argentina than the rest of the market @LocalBitcoins

Lowest offer: 650k Pesos = $10,790 (8% higher than Bitstamp)

Highest offer: 770k Pesos is 28% above Bitstamp.

Bitcoin may be a risky asset for investors but for some, it is clearly a safe haven. pic.twitter.com/idLyTvAkMg

— Mati (@MatiGreenspan) August 15, 2019

Despite the fact that they help to sensationalise the premium, we should discount the upper figures in the above Tweet. Traders can post whatever price they like on LocalBitcoins, and even the UK-facing site features some traders trying to sell BTC for a more than a 50 percent premium. The 28 percent means very little.

Recent price volatility in the Bitcoin market, the price swinging around the $10,000 level has caused people to speculate as whether the cryptocurrency really can be considered a “safe-haven asset”. When Bitcoin’s price goes up, it is because Chinese citizens are protecting their wealth against the ill-effects on an ongoing trade war with the US. When it drops, Bitcoin is a lousy store-of-value, what a stupid idea…

There is no such thing as a safe-haven asset. There are only safer havens than your current situation. If the worst your government is going to do this year is devalue your currency by 4 percent instead of 1 percent, perhaps Bitcoin represents too much of a risk to store any real value but as a speculative investment of a tiny portion of your net worth, it might be appealing. A safe-haven against that 4 percent drop would have to be much more stable than Bitcoin. Fine art or real estate might be preferable.

This is not the reality for many people around the world. Their governments and central bankers have track records of questionable banking policies and other potential causes of extreme currency devaluation. In these situations, people become more willing to explore other means of preserving their wealth. The number of eligible safe-havens just increased.

Armed with just a smartphone and a handful (or wheelbarrowful) of cash, anyone around the world can buy and hold Bitcoin. In fact, one Twitter user living in Argentina commented on the post above. @ErediaJavi stated that buying Bitcoin at its 2017 peak of nearly $20,000 was one of the best financial decisions he has ever made. This is despite the fact it now sells for around half the price that it did at its very highest point.

Im from Argentina. Investing in Bitcoin in the worst scenario ( during the Ath in 2017) still was one of my best financial decison ever. Very sad for my country and the current situation though

— Javi.eredia (@ErediaJavi) August 15, 2019

The fact that demand has meant that no seller will drop below an eight percent premium on the Argentinian LocalBitcoins highlights that the concept of a safe-haven is relative. Just because something doesn’t offer utility to you in your situation, doesn’t mean it doesn’t to anyone on planet. This line of thought is naive at best and hellishly arrogant at worst.

 

Related Reading: Is Bitcoin Not a Safe Haven? Crypto Crashes in Tandem With Dow

Featured Image from Shutterstock.
Tweet123Share223ShareSend
Rick Delafont
Rick Delafont

Rick Delafont

Based in Europe, Rick has written about the cryptocurrency industry since 2016. He was first drawn to Bitcoin as a means of payment but quickly became fascinated by its wider potential implications. His interests lie in the political, economic, and social impact of the unfolding digital asset revolution.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Avalanche

Avalanche Shatters Record With 20M Transactions—Is Real-World Use Finally Here?

Avalanche (AVAX) climbed past the $21 level this week, marking a 2.5% gain over 24 hours. Trading volume hit nearly $800 million,...

Christian Encila 3 hours ago
비트코인 12만 돌파... 99비트코인 보고서가 짚은 '2025 상승장의 핵심 동력'

비트코인 11만 돌파… 99비트코인 2분기 보고서가 짚은 ‘2025 상승장의 핵심 동력’

2025년 들어 암호화폐 시장이 가파른 상승세를 보이는 가운데 투자자와 업계의 관심이 다시 한 번 비트코인과 주요 디지털 자산에 집중되고 있다. 이러한 흐름 속에서 99비트코인은 ...

Soyeon Lee 4 hours ago

From Token Chat to 10 Cents: How FUNToken’s Group-Driven Growth Is a Model for Web3 Community Building

A common question that often pops up in people’s minds is whether it is possible for a token community to...

News BTC 4 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

BTC (1)

Η Bitwise προβλέπει Bitcoin στα $200.000 λόγω της αυξημένης ζήτησης από επενδυτές

Ανθή Ντόνκοβα 21 minutes ago
Bitcoin

$122,000 And Climbing: Bitcoin Sets New Record As ETFs Drive Demand

Christian Encila 1 hour ago
Ethereum Supply Locked Hits New ATH: Smart Money Bets On Long-Term Growth

Ethereum Supply Locked Hits New ATH: Smart Money Bets On Long-Term Growth

Sebastian Villafuerte 2 hours ago

Premium Sponsors

Press Releases

  • 2 megfizethető kriptó 9000%-os potenciállal, olyan...

    55 minutes ago
  • 2 cenovo dostupné kryptomeny s potenciálom 9 000 %, podobne ako kúpa Etherea za 8 dolárov začiatkom roku 2017

    2 cenovo dostupné kryptomeny s potenciálom 9 000 %...

    2 hours ago
  • 新BTCレイヤー2プロジェクト、仮想通貨プレセールで250万ドルを調達 — 今買うべき暗号資産とは?

    ...

    6 hours ago
  • BTC breaks through $122,300, GoldenMining users earn...

    6 hours ago
  • 仮想通貨 おすすめ|0.0015ドル以下の安価トークンがDOGEを上回り、4ヶ月で0.30ドル到達へ

    仮想通貨...

    6 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.