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The Executive Director of Coibase recommended Bitcoin as a common currency for Brazil and Argentina.

The head of the Coinbase cryptocurrency exchange Brian Armstrong identified Bitcoin as a “correct long -term rate” for Brazil and Argentina.

Wonder If the Woold Consider Moving to Bitcoin – That Woold Probably Be the Right Long Term Bet https://t.co/6ekjdwcsno

– Brian Armstrong (@brian_armstrong) January 23, 2023

According to the publication of Financial Times, Brazil and Argentina are going to approve a single currency to reduce economic dependence on the US dollar.

The Minister of Economics of Argentina Sergio Massa spoke about plans to offer participation in the block and other Latin American countries.

“I wonder if they will consider the transition to bitcoin. This would probably be a correct long -term bet, ”Armstrong wrote.

Recall that in September 2021, the Salvador authorities recognized Bitcoin as a legal means of calculations. In April 2022, the Central African Republic legalized the first cryptocurrency.

In December 2022, Brazilian President Zhair Bolsonaru signed a document ensuring the status of a payment vehicle and an investment asset. The law will enter into force in June 2023.