@jackmallers
🇦🇷 Welcome, Argentina! 🇦🇷
Today, we launch a superior financial experience to a country that faces hyperinflation, predatory payment networks, and unusable cross-border transfers
Today, we use the world's open monetary network, #Bitcoin , to give hope to the people of Argentina
https://twitter.com/jackmallers/status/1480964517169410055?s=21@jackmallers
Argentina is plagued with a history of economic turmoil and uncertainty.
Inflation will reach 55% this year.
GDP will contract by 12% this year.
There have been 8 currency crises since the central bank was founded.
Half the population is already living in poverty.
https://twitter.com/jackmallers/status/1480964519086206977?s=21@jackmallers
In 1991, amidst hyperinflation, Argentina launched the Argentine Peso that pegged to the dollar
However, they never converted to dollarization, government spending soared, and peso devaluation began in 2001
This resulted in dollars as the primary unit of account in the country
https://twitter.com/jackmallers/status/1480964520113811456?s=21@jackmallers
As such, Argentinians have historically fled to the dollar
An estimated 10%+ of the physical stock of dollars in the world is within the Argentine financial system
There is soaring demand for harder, more stable, money and a monetary policy the people of Argentina can rely on
https://twitter.com/jackmallers/status/1480964521166524416?s=21@jackmallers
As Argentinians lose confidence and flee their peso for dollars, the country’s reserves shrink.
This has forced the government to devalue their currency, place restrictions on how much foreign currency citizens can hold, and shut down dollar-denominated payment networks.
https://twitter.com/jackmallers/status/1480964524912041984?s=21@jackmallers
However, this hasn't stopped the Argentine people.
Dollars are now double the official rate in the parallel market and other payment mediums have been born to facilitate transactions between different currencies, peers, businesses, and countries.
https://twitter.com/jackmallers/status/1480964528535973898?s=21
@jackmallers
There is now unprecedented demand for an open monetary system that lives within a distributed network, has a known monetary policy, a fixed supply, and is resistant to censorship.
Argentina needs the best monetary asset and the best monetary network in human history: #Bitcoin
https://twitter.com/jackmallers/status/1480964530830249985?s=21@jackmallers
With Strike, the Argentinian people can now hold a stable cash balance that can be spent both instantly and with no fees.
Cheap, instant, cash final, global payments of any size, for anyone, to anywhere. Even over @Twitter.
No inflation.
No restrictions.
Financial freedom.
https://twitter.com/jackmallers/status/1480964599768059905?s=21@jackmallers
This is a superior financial experience that legacy financial institutions and governments have failed to deliver to the people of Argentina.
#Bitcoin is a superior monetary system that builds towards financial inclusion and helps re-instill basic human freedoms.
https://twitter.com/jackmallers/status/1480964603437887493?s=21Maybe Bukele was right & 2 new countries will adopt bitcoin as legal tender in 2022. It looks like we could have seen the first of the year in Argentina 🇦🇷 
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