Bitcoin, the first and largest cryptocurrency by market capitalization, has hit a new all-time high in Argentina, surging past previous records in local currency terms amid rising inflation and a rapidly devaluing peso.
While the global BTC price remains below its U.S. all-time high, local demand has driven up the price in Argentine pesos, with Bitcoin selling above ARS 119 million per coin on various platforms.
#BITCOIN JUST HIT A NEW ALL TIME HIGH IN ARGENTINA 🇦🇷
FIAT IS ALWAYS COLLAPSING SOMEWHERE! 🚀 pic.twitter.com/bB4puLITm3
— Crypto Rover (@rovercrc) May 20, 2025
At press time, BTC was trading at $104,416 in dollar terms, up 4.27% from the all-time high of $109,114 reached in January.
In positive news, JPMorgan CEO Jamie Dimon announced that bank clients can now buy Bitcoin, but he restated his long-held pessimism about cryptocurrencies.
JPMorgan joins other large banks, like Morgan Stanley, which allows its financial advisors to pitch clients on some Bitcoin ETFs if they meet certain criteria.
Bitcoin updates
Cryptocurrencies continued to climb in the early Tuesday session, tracking a broader recovery on risk markets. According to CoinMarketCap data, BTC has increased by 1.23% in the previous 24 hours to $104,485 as of press time.
Strategy, the largest publicly traded BTC holding business, announced on Monday that it had purchased 7,630 BTC at an average price of more than $103,000, boosting confidence.
In the most recent move, energy management firm KULR (KULR) increased its Bitcoin treasury to over 800 tokens by purchasing an extra $9 million worth of BTC.
The latest acquisition, made at an average price of $103,234 per coin, takes KULR’s total investment in cryptocurrencies to $78 million.
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