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When Argentina's Currency Fails Bitcoin Will Quadruple
News Analysis

Written by Jordan Bodnar, 28.11.2017

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James Altucher the American hedge fund manager and author of Choose Yourself Financial says cryptocurrency is here to stay. As only 1% of the world is currently in the coin market and 95% of all bitcoins are already mined the demand will soon far exceed the supply. He predicts that bitcoin will rise to over $50 000 when the currency of Argentina or Venezuela soon fails.

Let's look at the math on the demand side. The average yearly salary is $10 000 in Argentina. 48M argentines live under a currency that has seen rampant inflation. Per say the entire country switches over to Bitcoin as the major currency that's $480 Billion in Bitcoin that would be bought.

Bitcoin's current market cap is $184 Billion. The demand in Argentina alone would be 260% that of all the money currently in the major cryptocurrency. That would create a hell of a jump in BTC price.

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