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Buenos Aires Travel Guide

The Rise of BitCoin in Buenos Aires

Posted: Jun. 4th, 2013  |  By Michael Pearse
BitCoin sign
Sean Gallup/Getty Images

BitCoins, the internet-created digital currency that has nothing backing its value, still somehow manages to grow in popularity. Particularly in Buenos Aires, BitCoins can now be used to buy all sorts of real life items, even including condos!

At a bar several hours outside of downtown Buenos Aires, a group of 16 strangers gathered around a table to learn about a new way to circumvent Argentina’s inflation. Only this time it wasn’t another clandestine way to accumulate illegal US dollars; the group had traveled to the outskirts of Argentina’s capital to hear about Bitcoin.

That was over six months ago.

Today, the meetups have ballooned to include as many as 100 locals interested in learning the basics of Bitcoin, and the latest developments in its evolution. But unlike Bitcoin enthusiasts elsewhere, who buy and sell bitcoins as a means of exchange, Argentines are hoping bitcoins will help them save, Wences Casares, a Buenos Aires-born entrepreneur who founded lemon.com and organized the original meeting that took place last fall, explained. “In Argentina, people use Bitcoin to save.

Read More on qz.com

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