In November 2023, economist Javier Milei became the new President of Argentina. Known as a Bitcoin supporter, Milei will look to adopt Bitcoin over the next year, which could drive up the cryptocurrencys value. Meanwhile, a new community-driven memecoin is taking the market by storm and is expected to offer returns of up to 100x over the next year.
Argentinas President Looks To Adopt Bitcoin
The value of Bitcoin increased to $37,500 shortly after Javier Milei was made president. The economist has spoken positively about Bitcoin and cryptocurrency in the past, and now crypto experts believe that Argentina could boost Bitcoin's price in 2024.
However, theres one drawback: no policy has been outlined to introduce Bitcoin or any other cryptocurrency. While Milei has described Bitcoin as a way to "return money to its original creator," hes yet to implement any new policies.
During his first few months as President, Milei will look to close the Central Bank of Argentina and dollarize the Argentine economy. The reason behind this radical change is Argentinas issue with inflation. In recent years, Argentina has faced inflation rates of over 100%, making it extremely difficult for people to buy goods. Bitcoin could be a solution to this.
Nonetheless, as of January 9th, 2024, no new announcements have been made regarding the introduction of Bitcoin in Argentina. Regardless, Bitcoin is soaring with the potential release of a Bitcoin spot ETF this week.
At the time of writing, Bitcoin's daily trading volume had passed $40 billion, and Bitcoin was trading at $46,609. Post ETF release, experts predict that Bitcoins market cap could pass $1 trillion, and BTC could hit a new all-time high. Such growth would trigger a bull run throughout the DeFi market, elevating the value of projects such as Meme Moguls, which is quickly becoming a strong contender in the presale space.
Meme Moguls Emerges As A Top Memecoin In 2024
Meme Moguls is pushing P2E DeFi developments with its unique new meme marketplace and ecosystem. The project looks to empower individuals by teaching them now how to invest and build wealth. Its simulated meme marketplace will give investors $100,000 to invest in a virtual stock market. Here, investors can test out new investing strategies, learn about the market, and win real cash prizes and rewards.
Players will also have the chance to meet like-minded individuals and compete in tournaments and other games. For investors with more experience, winner-takes-all and buy-in events are available, where investors can win big.
Investors looking for a more relaxed experience can play games like Beat the Market, where they build a portfolio to try and beat the world's leading index funds.
Meme Moguls is currently in stage four of its presale. Its native token, $MGLS, is selling for $0.0027, and almost one billion tokens have already been sold. Investors who buy $MGLS during its presale have the chance to win rewards such as cash prizes and holidays, as well as a $10,000 reward at the end of each presale round.
As Meme Moguls continues to build its momentum, experts believe this exciting memecoin will become a big contender in the memecoin space, offering greater utility and potential returns than many of the market's top projects.
For more information about the Meme Moguls (MGLS) presale follow the link below:
Meme Moguls and all cryptocurrencies are subject to significant price fluctuations and volatility. Investing in or holding Meme Moguls tokens carries substantial risks, including the potential for total loss. Past performance should not be considered indicative of future results.
View source version on newsdirect.com: https://newsdirect.com/news/argentina-to-boost-bitcoin-price-new-community-driven-meme-coin-emerges-as-the-next-big-contender-616127724
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Herald Quest journalist was involved in the writing and production of this article.