More significantly, the Bank suggests that the key innovation is not the digital currency itself — which is subject to wild fluctuations — but the “distributed ledger,” which tracks Bitcoin transactions. That ledger has the potential to revolutionize the financial system, the bank argues.
Rodriguez said that the company logged one of its most active trading days on 31st July, the day after Argentina defaulted on its debt. That day saw trading activity hit a month-long high, he said.
“We think it was mostly for users to keep their money safe elsewhere, and not the Argentinian peso. Bitcoin users feel safer in bitcoin […] due to high inflation, unknown economic forthcomings, bank restrictions and capital control, restricting free movement of capital.”