Argentinian tour guide Jerónimo explains how he “fell in love” with bitcoin and why it’s so popular in his country

Resident of Buenos Aires, 48 ​​years old Jeronimo Ferrer recently explained why crypto (specifically, Bitcoin) has become so popular in Argentinawhich is the largest Spanish-speaking nation in the world in terms of land area.

Ferrer is a Business Development Associate at Paxful, which is one of the leading peer-to-peer (P2P) bitcoin marketplaces. He is also the host of a popular Airbnb experience (in the Argentine capital) called “Our Crazy Local Economy & Bitcoin“.

Here is a brief the description of his 2.5-hour tour, which costs around $28 to $35 per person:

We will visit the Central Bank Museum where we will go through the history of money in general. Next, we will look at monetary issues particular to Argentina, such as monetary policy and their results in our country. Later we will walk through the financial district to finally sit down for a coffee (not included) where we can start learning more about bitcoin.

Find out how to set up your wallet and how to protect your bitcoins in the most secure way. The next step will be to walk to Florida Street, surrounded by “arbolitos”, to find the Bitcoin ATM and learn how to buy and sell the currency. The place where you can have your first Satoshis!

Yesterday, CoinDesk published a report by journalist Marina Lammertyn about Ferrer and his bitcoin tour.

Here are some of the most interesting aspects of its history:

  • He started the tours in February 2019 because he wanted to “spread bitcoin as a tool for freedom in a country that has no hard currency, with rampant inflation at an average rate of 70%.”
  • Two major economic events in Argentina, namely (1) the collapse of the Argentine Peso (ARS) in 2001 and the resulting economic measures (“corralito“) taken by the government, such as temporarily freezing bank accounts, to stop a run on the banks; and (2) government nationalization of about $30 billion in private pension funds in 2008 to “protect retirees and workers” had a profound influence on his view of money and his approach to investing in an environment of high inflation.
  • Since being “a victim of both events”, he “started looking for other ways to save and found bitcoin when, during one of his previous jobs, an Italian customer asked him to pay in this cryptocurrency,” who is he when he “fell in love with it.”
  • Ferrer says that since there is a limit ($200) on the amount of USD people can buy through banks, “illegal money changers” have sprung up everywhere, but the ARS-USD rate that they offer is not so good (up to 100% worse than the official rate).

April 22, BBC News reported on the Argentinian crypto scene, and Ferrer was also mentioned in this report, where he is quoted as saying:

When you have restrictions, you need tools for freedom.

The BBC News report mentioned that “for some early adopters of cryptocurrency in Argentina, even a relatively young and unpredictable currency is preferable to the wildly fluctuating peso”, which is why Bitcoin continues to be very popular despite claims some critics that it’s too volatile, a claim that Gabor Gurbacs, who is the director of digital asset strategy at MVIS (a subsidiary of VanEck), recently scoffed at:

María Mercedes Etchegoyen, an Argentinian lawyer specializing in intellectual property law, told BBC News that “during the pandemic people noticed this situation, and to protect their money they chose to look for a limited asset” and that “In Argentina there was no specific regulation on cryptocurrency.

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