π₯ Argentina's google searches for Bitcoin at ATH!
Hello!
I'm obsessed about Google Trends searches for Bitcoin. I think it's one of the greatest ways to measure if retail money is entering the space. Currently we are still not at All Time Highs for the number of searches about Bitcoin worldwide, however we already reached the peak in some countries. One of those is Argentina.
Take a look at the chart:
# You are wondering why?
Well, if you follow closely the financial news you should know that they are suffering huge inflation rates for years.
The annual variation rate of the CPI (Consumer Price Index) in Argentina for last month, December 2020 was 36.1%. It's almost 40% inflation per year, are you kidding me?! For those who don't know what CPI is, according to investopedia:
The Consumer Price Index (CPI) is a measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food, and medical care. It is calculated by taking price changes for each item in the predetermined basket of goods and averaging them. Changes in the CPI are used to assess price changes associated with the cost of living. The CPI is one of the most frequently used statistics for identifying periods of inflation or deflation.
There are many more countries where the number of searches for the term Bitcoin is at maximum, such as Turkey, Venezuela or Nigeria. In fact, I am glad that this people can have a safe heaven asset to protect their wealth. Even the unbanked can now have Bitcoin in their smartphone without any third party or government blocking their transactions.
Bitcoin is helping poor countries escape from the tyranny of their politicians and central bankers, and I am glad they can. We are thinking that we can't get this high levels of inflation in our countries, but I honestly think that anything can happen, even in the USA or Europe.
Stay safe out there! π
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