How cryptocurrencies are emerging in Argentina: Argentina has long faced economic instability, with its economic narrative consistently accompanied by profound structural instability. The country's native currency, the Argentine peso, has endured double-digit high inflation rates for decades. This volatility peaked dramatically in April 2024, with inflation soaring to 289.4% year-on-year. Despite this, under President Javier Milei's government implementing aggressive economic reforms such as "shock therapy," inflation and peso devaluation significantly declined between 2024 and 2025. By mid-2025, the annual inflation rate had dropped substantially, with data released in May 2025 showing a inflation rate of 43.5% for that month.

Although these reforms showed initial success, Argentina's economy remains at double-digit inflation levels, and its fundamentals remain fragile. Ongoing currency devaluation has severely eroded people's purchasing power and savings. More challenging is the strict capital controls and foreign exchange restrictions implemented by the government, which have historically locked Argentinians out of traditional methods of protecting wealth, such as purchasing US dollars.