A large-scale Bitcoin effort will take place in Tijuana, Mexico next week. People who have been following the financial news will have noticed the value of the Mexican Peso took a nosedive as of late. Now is an opportune time to spread the word about Bitcoin to both consumers and shop owners in Tijuana. It is expected more of these efforts will take place in Mexico over the next few months.
Major Promotional Effort Can Boost Bitcoin Adoption
Mexico is one of those countries where Bitcoin can make a big impact in the coming years. The country is struggling with a weakening Peso, and inflation is starting to reach alarming levels. Although things are not a bad as in Venezuela, for example, things are on the verge of getting out of hand. A standstill of the Mexican economy needs to be avoided at all times, and Bitcoin may be the answer to these problems.
This is why a new effort will be launched to promote Bitcoin in Mexico. By going after the vendors and shop owners in Tijuana, a major first step will be taken later today. It remains unclear if this event will have a significant impact, but it’s nice to see some people try to make use of this opportunity. With a weakening peso, the financial situation in the Mexico will only grow worse over time.
Part of this Bitcoin promotional effort will see Tijuana shop owners receive a copy of yBitcoin, as well as a few stickers and an explanation of why cryptocurrency matters. Right now, Bitcoin’s recent value decrease may not provide an alluring alternative to the Mexican Peso, though. Only time will tell how successful this effort will be, but it is a welcome development to promote cryptocurrency nonetheless.
To put the news about the peso into perspective, Mexico’s national currency has seen a rather sharp decline over the past week. Not just against the US Dollar, though, as the Peso is decreasing in value compared to all the other main currencies as well. Most of this “panic” stems forth from new US President Donald Trump reaffirming his plans to build a wall on the border between the USA and Mexico.
Header image courtesy of Shutterstock