Argentines close bank accounts but open for cryptocurrencies

In recent times there has been a growth in the interest of the Argentine investor to invest in crypto assets as opposed to investments in the stock market.

According to the Caja de Valores, there are currently 395,700 active client accounts, of which 57% belong to Settlement and Compensation Agents (ALyC), also known as brokerage firms.

However, there was a decrease of 26% compared to the last quarter of 2020, at which time there were 536,773 operating accounts, after sustained growth since mid-2019.

This meant that one in four accounts on the stock market ceased to exist or have a balance in the last year.

At the same time, in the incipient world of cryptocurrencies, it is estimated that in the Argentine market there are 2 million accounts to operate with crypto assets.

“In Argentina, we have one of the largest crypto communities in the world,” said Federico Ogue, CEO and founder of Buenbit.

On the other hand, a recent study by the analysis company Atlantico showed that, last year, Argentina stood out as the regional country with the highest volume of transactions in assets of this style with a total of US $ 48 million.

Globally, Argentina ranked fourth on a transactional volume podium, which was led by the United States with $ 1,524 million, China with $ 198 million, and India with $ 64 million.

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