Is Mexico about to have their Bitcoin moment? Currency falling 12% \ stacker news ~bitcoin

Is Mexico about to have their Bitcoin moment? Currency falling 12%

471 sats \ 12 comments \ @036e999b2c 12 Jun bitcoin

The Mexican Peso was one of the strongest currencies against the USD for the last 4-5 years. However, just 10 days after the recent elections (where the extreme left won everything), the MXN has lost 12% against the USD.

I wonder if Mexicans are about to have a “Bitcoin aha” moment or if they will only look to dollars for safety (until their government starts guarding the exits of capital).

Are there any Mexicans here? What are your thoughts?

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23 sats \ 1 reply \ @guts 12 Jun

I'm Mexican, it is uncertain with the next president, for instance her party Morena has not proposed any comprehensive legislation for the crypto sector, but has imposed a 20% tax on crypto gains.

In Mexico is still niche and regulated, and lurking around the Mexican community they are more pro crypto than just Bitcoin.

0 sats \ 0 replies \ @Bell_curve 12 Jun

The new president is a socialist with a radical history

100 sats \ 1 reply \ @Akg10s33 12 Jun

I am not Mexican but I think they are going to wait and take refuge in American dollars... Mexico has always lived mirroring the United States although they do not accept it and also in the dollar... I think that few will be those who will seek the way to advance or capitalize with Bitcoin..

0 sats \ 0 replies \ @Bell_curve 12 Jun

Mexico should dollarize like Panama 🇵🇦 and El Salvador 🇸🇻

0 sats \ 0 replies \ @Coinsreporter 13 Jun

Mexicans won't leave Dollar as of now!

0 sats \ 0 replies \ @030e0dca83 12 Jun

I wish them discover bitcoin as fast as they can.

I have deep feeling people who suppress bitcoin or say something against it, silently buy it and eventually will ask: "Why didn't we do the same?"

0 sats \ 0 replies \ @zarko 12 Jun

idk about Mexico, but Brazil is next

https://www.tradingview.com/chart/dpQyDSdo/?symbol=ECONOMICS%3ABRM2

0 sats \ 0 replies \ @Satosora 12 Jun

I bet they will. They have seen other countries close by use bitcoin, its eventually going to spread to them.

0 sats \ 0 replies \ @franzap 12 Jun

Bitcoin might, just might only have a chance in the face of complete mayhem. A 12% fall won't do anything, in my opinion.

This is because of the US dollar. Only when the dollar is stopped being perceived as stable and safe (stubborn assumptions in most cultures) will bitcoin have a chance to be considered by a significant amount of people.

0 sats \ 2 replies \ @SatsMate 12 Jun

I don't think so, they have a socialist in office.

THe best way for a country to have a bitcoin moment is to have countries that were going through extremely hard times financially like El Salvador (i.e. Lebanon, Turkey, Argentina).

I'm hopeful though, and bullish on this!

10 sats \ 0 replies \ @franzap 12 Jun

In Argentina we had the currency falling by 100-120% yearly and it woke up very few people relatively speaking. Most still think in the greenback as safe haven and if they hear about bitcoin it's immediately related to cRyPTo, a gamble used to make more dollars. Sad but true.

0 sats \ 0 replies \ @036e999b2c OP 12 Jun

I meant the people, not the government.

Seems like they gov is about to "abuse their power" with this overwhelming majority.