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Bitcoin shines in emerging markets plagued by falling currencies

From Bueno Aires to Beirut, investors embrace cryptocurrency as safe haven

Demand for bitcoin is surging in emerging markets as the value of their own currencies continue to decline.   © Reuters

SAO PAULO -- Bitcoin has rapidly gained traction in emerging economies battered by the pandemic-triggered capital flight, as investors rush to shift money from their own falling currencies to the cryptocurrency 

In nations where purchases of hard currency are restricted, such as Argentina and Lebanon, in particular, the cryptocurrency is being embraced as an alternative to dollar assets.

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