Bitcoin, the granddaddy of all cryptocurrencies, has just pulled a fast one on Argentina, breaking its own record and hitting an all-time high in local currency terms. The reason? Well, the good old peso is making a valiant effort to disappear into thin air, while inflation takes its usual stroll down the road of doom and gloom. But fear not, for Bitcoin is here to save the day… sort of. 🤑
Despite the global BTC price still being a few steps shy of its U.S. record, the locals in Argentina have been on a buying spree, pushing Bitcoin’s price well above ARS 119 million per coin. It’s as if the peso decided it wasn’t enough to just devalue – it had to do it in style. 🎉
#BITCOIN JUST HIT A NEW ALL TIME HIGH IN ARGENTINA 🇦🇷
FIAT IS ALWAYS COLLAPSING SOMEWHERE! 🚀
— Crypto Rover (@rovercrc) May 20, 2025
As of now, Bitcoin is dancing around the $104,416 mark in U.S. dollars, which is a 4.27% increase from the record-breaking $109,114 it reached back in January. At this rate, it’s almost as if Bitcoin is determined to become the one thing in Argentina that isn’t plummeting in value. 🤔
In other news that may or may not surprise you, JPMorgan CEO Jamie Dimon, who has made his feelings about Bitcoin as clear as his hairline, has decided that his bank’s clients can now buy Bitcoin. How lovely of him! Of course, he couldn’t resist rehashing his usual skepticism about the whole thing. 🥱
JPMorgan has now joined the ranks of other major banks, like Morgan Stanley, which has graciously allowed its financial advisors to pitch clients on Bitcoin ETFs – provided they meet a certain set of qualifications, naturally. Because who doesn’t love a good, complicated financial product? 💼
Bitcoin Updates
Cryptocurrencies continued to rise in the early hours of Tuesday, mimicking the broader recovery in the risk markets. According to the good folks at CoinMarketCap, BTC has climbed by 1.23% in the last 24 hours to hit $104,485. What a time to be alive! 🎉
Meanwhile, Strategy, the largest publicly traded BTC holding company, made an announcement on Monday that it had bought a cool 7,630 BTC at an average price of over $103,000. The market is apparently reacting with a mixture of optimism and confusion. 😆
In yet another twist to this ever-intriguing saga, energy management company KULR (KULR) decided it was time to beef up its Bitcoin stash by purchasing an additional $9 million worth of BTC. This latest acquisition, made at an average price of $103,234 per coin, brings KULR’s total crypto investment to a staggering $78 million. You can never have too much Bitcoin, can you? 🤑
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2025-05-20 19:09