Bitcoin in the Headlines is a weekly look at bitcoin news, analyzing media and its impact.
Is bitcoin the economic antichrist or a savior for struggling nation states?
This debate played out in the headlines this week in lengthy dissections of bitcoin’s apparent growth in Argentina, a nation plagued by economic mismanagement and hyperinflation.
But, while bitcoin may be seen as a potential savior for one long-struggling economy, rumours of bitcoin’s biblical ties were levied by a right-wing publication in the latest sign that the debate over the technology is expanding its reach, in sometimes peculiar ways.
Bitcoin in Argentina
Sparking the most comment this week was The New York Times’ decision to publish an adaption of Nathanial Popper’s new book, “Digital Gold: Bitcoin and the Inside Story of the Misfits and Millionaires Trying to Reinvent Money”.
In his lengthy exposé, Popper discussed how the digital currency could potentially transform Argentina’s dysfunctional financial system.
Popper’s excerpt read:
“With its volatile currency and dysfunctional banks, the country is the perfect place to experiment with a new digital currency.”
The prediction is certainly interesting given that Bitcoin Market Potential Index (BMPI) – which ranks the potential utility of bitcoin across 177 countries – found that