Categories: News

American Airlines No Longer Accepts Argentine Peso – Opportunity for Bitcoin

Despite there being multiple issues with fiat currency as we know it today, things take a drastic turn for the worse once a local currency becomes utterly useless. American Airlines, one of the world’s leading airlines in the world, announced they are no longer accepting payments in Argentine Peso. There is no better time than now to get start working with Bitcoin payments.

Also read: Bitcoin Mining and Renewable Energy Solutions Are Mutually Beneficial

American Airlines & Argentine Peso Is A No-Go

According to the statement released by American Airlines, the company is no longer accepting Argentine Peso payments due to “no inventory available for purchases in this currency due to repatriation issues”. For those who can not read between the lines: American Airlines is having issues when trying to convert Argentine Peso to US Dollar.

Due to this decision, it is impossible to book any flight with Argentine Peso for the time being. However, American Airlines still accepts purchasing made by Argentinians using foreign credit cards denominated in a different fiat currency; It is no secret how the Argentine peso has been losing a lot of its value over the past years, and it looks like there is no improvement in sight anytime soon.

Truth be told, this issue is not entirely American Airlines’ fault either. The company is falling victim to several things going in Argentina itself, which is limiting any business manoeuvrability. With Argentina’s central bank reducing the daily amount of money foreign companies can bring back to the US, there is very little room for major businesses to operate as normal.

Related Post

To make matters even worse, there are major changes coming to Argentina’s currency. Now that a new President has been elected, major economic reforms have been announced. Among those reforms is ending the government’s currency controls, which can turn out to be either positive or negative.

A Huge Opportunity for Bitcoin

Regardless of how the situation with the Argentine Peso plays out in the near future, this decision by American Airlines creates a major opportunity for Bitcoin. Accepting this disruptive digital currency would allow Argentinians to still book flights with American Airlines, regardless of whether they owned a foreign credit card or not.

Obtaining such a credit card is quite a struggle in Argentina, as there are strong verification requirements before being granted this benefit. Additionally, most citizens in the country don’t even have access to regular financial services, let alone obtaining foreign-based tools. Bitcoin could solve the problem for all parties involved, and put American Airlines on the map as one of the pioneers to accept digital currency payments.

What are your thoughts on this story? Leave a comment below!

Source: CNN Money

Images credit 1,2,3

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

Share
Published by
JP Buntinx

Recent Posts

These 3 Cryptos Might Rival Solana, Offering Growth Potential For Investors

Solana's (SOL) meteoric rise surprised the crypto world, leaving many investors feeling they missed out…

2 hours ago

SOL Market Cap Hits $100 Billion as Possible Infinaeon Long-Term Price Targets Surge

The SOL price has surged to well over $200 as its market capitalization exceeded $100…

3 hours ago

XRP Price Prediction: Ripple Could Hit $3 as in 2018 Soon, but RCOF Could Rise Above it from $0.05

When the XRP price shot past $3 in 2018, it carved its place as a…

3 hours ago

BlockDAG’s 100% Bonus Energizes the Market & Cutoshi’s Presale Surges

BlockDAG Drops a Huge 100% Bonus in the Bull Run As Cutoshi Presale Heats Up!…

6 hours ago

Solana Meme Coin Duo PNUT and ACT Rocket On Binance Listings, Could This Altcoin Be Next?  

Memes have been on fire lately, with Solana newcomers Peanut The Squirrel and Act 1:…

7 hours ago

Cardano Price Rockets 50% in a Week! Experts Reveal the Next Crypto to Watch

Cardano price has lit up the crypto world with a dramatic 50% price surge that…

7 hours ago