Argentines Hold More Bitcoin Than Stablecoins, Pesos Per Lemon

Core Insights - Bitcoin has become the preferred currency for users of the Lemon financial app and crypto wallet in Argentina, with 34.54% of reserves held in BTC [2][5] - The shift in user behavior reflects a growing preference for Bitcoin and altcoins over traditional dollar-pegged tokens, indicating a change in perception regarding risk and value storage [3][4] User Behavior and Asset Allocation - Among Lemon users, Bitcoin leads with 34.54% of total reserves, followed by stablecoins at 25.71% and Argentine pesos at 21.19% [2] - Ethereum ranks as the fourth most-held asset at 10.61%, while Solana and XRP account for a combined 3.35% [2] - Over 800,000 Lemon users hold Bitcoin, representing nearly 23% of the 3.4 million Argentines using the app [5] Market Trends - In 2024, stablecoin purchases increased by 44.4%, while Bitcoin and altcoin purchases surged by 126% and 158.5%, respectively [5] - The perception of the US dollar as a store of value has diminished, leading users to view Bitcoin as a long-term investment rather than a speculative asset [4] Transaction Dynamics - Pesos and stablecoins are the most commonly used assets for in-app transactions, balancing convenience and stability for daily spending [6] - Users primarily deposit pesos into Lemon for daily purchases, earning Bitcoin cashback, which has distributed over $29 million in Bitcoin since 2021 [7] - The cashback model contributes to the growing portfolio allocation of Bitcoin among users, supporting crypto adoption in Argentina and Peru [7]