As reported by CryptoPotato, Bitcoin has reached a new all-time high in Argentina, with the valuation of each Bitcoin soaring to 40 million pesos. Against the backdrop of the Argentine Peso’s 99% depreciation against the U.S. dollar since 2018, digital assets are gradually becoming a mainstay of financial stability for many citizens. Argentina has a history of economic instability, with frequent currency devaluations making it difficult for residents to save and manage their finances. As a result, citizens have turned to digital assets, showing strong grassroots adoption. To maintain purchasing power, Argentines have turned to popular stablecoins such as USDT and USDC for savings and exchange of local income instead of Bitcoin. According to Chainalysis’ findings, Argentina ranks 15th in the world in terms of digital asset adoption. Argentina’s inflation rate has risen sharply. The Organization for Economic Cooperation and Development (OECD) predicts that the country’s inflation rate will reach 250.6% by 2024. In addition, the country’s economic recession is expected to exceed previous forecasts.