Makes sense. Thou in Argentina it seems they are just buying the US dollar.
Bitcoin Draws Premium in Argentina and Hong Kong Amid Sell-Off
The turmoil in Argentina and Hong Kong is prompting local investors to pay a premium for Bitcoin, with the leading cryptocurrency proving to be less of a refuge for everyone else than advertised. In Argentina, where the peso plunged on election uncertainty, Bitcoin was recently trading for as much as $12,000 on LocalBitcoins.com, a peer-to-peer platform, or 10% higher than on many international crypto exchanges. The token was trading at about a 4% premium in Hong Kong, where continued anti-government protests are raising fears of retaliation. “Bitcoin is becoming the asset of last resort in areas of extreme ... (full story)