Bitcoin Drops More Than 2% – Two Argentine Banks Allow Clients to Buy Crypto

Bitcoin price fell 2.23% Today (May 4) morning, moving at $37,919.99.

The negative Bitcoin move came after the Dow Jones Industrial Average closed up a modest 67 points on Tuesday (May 3) as investors awaited this week’s Federal Reserve (Fed) monetary policy meeting.

  • The Dow Jones Industrial Average rose 67.29 points, or 0.20%, to close at 33,128.79.
  • The S&P 500 was up 20.10 points, or 0.48%, to close at 4,175.48.
  • The Nasdaq rose 27.74 points, or 0.22%, at 12,536.76 points.

Movement in the Crypto Space

Recently, Banco Galicia, Argentina’s largest private bank, and Brubank SAU, Argentina’s digital bank, allowed bank customers to buy cryptocurrencies such as Bitcoin, Ether and USDC starting Monday (May 2).

Bank of Galicia states that the decision was based on growing customer demand, with 60% of respondents looking for an easy way to access crypto through their own bank.

Mr. Ariel Sanchez, Manager of Investment Products And Nicholas de Giovanni, senior product manager at Bango Galicia, said in a statement, “The survey results motivate us to push this project. The new generation is the group that wants this service the most.”

Chainalysis, an analytics company, revealed that Argentina is one of the top 10 crypto-using countries in the world.

Wonderman Thomson, a data and technology agency, said that due to the recurring currency crisis and inflation rising above 50% per year, two-thirds of Argentines have invested in cryptocurrencies to prevent their savings from losing value.

In addition, Brubank also stated that Crypto adoption through authorized banks is spreading from Argentina to the rest of the region.

The Spot Market is Open

Wednesday, May 4, 2022

Crypto
Updated at
USD
Price

Change

%Change
13.35 BTC38,294.35-51.77-0.14
13.35 ETH2,807.52-19.61-0.69
13.35 LTC100.29-0.80-0.79
13.35 BNB387.31+0.12+0.03
13.35 XRP0.61-0.01-1.07
13.35 ADA0.78-0.01-1.65
13.35 DOT15.15+0.11+0.73
13.35 DOGE0.13-0.00-0.54
13.35 UNI6.98-0.03-0.36
13.35 LINK11.22-0.01-0.09

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