Pomp: Bitcoin is becoming the global reserve currency

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Argentina Bitcoin

Morgan Creek Digital Founder, Anthony Pompliano, says there’s strong evidence to suggest Bitcoin is becoming the reserve currency of the world.

Pompliano says the shift to Bitcoin as a reserve currency is happening “right before our eyes”.

“Sovereign nations are already settling transactions in Bitcoin. Don’t blink,” he tweeted.

“Bitcoin is becoming the global reserve currency right before our eyes.”


Argentina Bitcoin developments

Anthony Pompliano’s comments follow reports by an Argentinian news outlet, that Argentina and Paraguay settled an export deal using Bitcoin.

It’s understood Argentina sold chemical products to Paraguay worth around US$7,100.

To settle the deal, Paraguay paid the bill by transferring the equivalent in Bitcoin.

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Once the Bitcoin payment was received, it was transferred to Argentinian Pesos through payments company Bitex.

“In this case Bitcoin is just a vehicle to process the payment, the exporter receives Argentine pesos, or dollars, and the buyer pays in local currency,” said Marcelo Moscatelli, an executive at Bitex.

Argentina Bitcoin
Argentinian commuters can now to-up ‘SUBE’ transportation cards using Bitcoin.

Earlier this month Bitex was involved in another major Argentina Bitcoin announcement.

The company partnered with payments processor Alto Viaje to enable Bitcoin to be used to top-up Argentinian state public transport cards, known as SUBE cards.

Almost 10 million Argentinians use SUBE cards to access public transport.