How Bitcoin became safe haven in South America**
There is a theory called hyperbitcoinization. And it says that the widespread introduction of Bitcoin is possible in developing countries with high inflation — hyperinflation and crisis. As a rule, hyperinflation occurs when a government has a poor monetary policy. This is especially noticeable in countries such as Argentina, India, Turkey.
Last year almost every person in the civilized world became aware of Bitcoin. This led to the trend of transferring capital into cryptocurrencies in countries with poor economies. The infographic shows examples of South American countries that increase their cash investments in cryptocurrencies. Data is taken from Local Bitcoins P2P service.
We decided to look at the reasons that prompted the population of these countries to transfer their assets to Bitcoin.
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