Argentina-Brazil exchange plan: how about Bitcoin, Dogecoin?

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As Brazil and Argentina take the first steps towards creating a common currency, Brian Armstrong, CEO of Coinbase COIN, suggests that the two countries should instead consider switching to Bitcoin BTC/USD. He thinks it could be the right long-term bet for their currency.

What happened: Brazil and Argentina are taking steps to deepen economic integration, which includes the goal of establishing a common currency.

Cryptocurrency enthusiasts are calling on Argentina and Brazil to adopt their favorite coins.

Dogecoin DOGE/USD Enthusiast “Doge Whisperer” says Dogecoin could potentially make more sense as a currency due to Bitcoin’s status as a store of value, tool for generational wealth creation and protection against inflation.

See more: Best Crypto Day Trading Strategies

Meanwhile, Shan Belew, proponent of Litecoin LTC/USD, suggested that perhaps the makers behind Dogecoin should consider switching to Litecoin as a long-term bet.

Michael Jordan, an Algorand influencer, took issue with bitcoin, stating its financial instability. If you get paid in BTC on Monday, then go shopping on Saturday…you may not have enough money to support your family.

Macroguru Raoul Pal noted that trying to manage a national currency with 100% volatility that drops 65% during a recession and rises 10 times during an economic boom can prove daunting for companies wishing to plan or guard against such extremes.

Price Action: At the time of writing, DOGE was up 6% in the past 24 hours, trading at $0.089, while BTC was down 0.87% at $22,713 at past 24 hours, according to Benzinga Pro.

Read next: Dogecoin, Ethereum Spike as Bitcoin Holds Over $21,000: Analyst Warns ‘Late Bulls Will Swing Lower’ If Apex Crypto Retests This Level

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