Ethereum co-founder Vitalik Buterin has commended Argentina’s economic progress, highlighting the stabilization of the Argentine peso and the nation’s efforts to combat inflation. On social media, Buterin noted that the peso’s exchange rate to the US dollar remains unchanged from a year ago, despite previous concerns about hyperinflation.

In a post, Buterin praised Argentine President Milwaukee for his accomplishments during his first year in office. “Quite an impressive turnaround for a currency that was previously on a seemingly unstoppable path to hyperinflation,” he stated. Additionally, Buterin acknowledged the recent decline in inflation rates, pointing to a significant improvement in the country’s economic stability.

President Milwaukee recently celebrated Argentina’s first fiscal surplus in 123 years, a milestone achievement reflecting the government’s dedication to restoring economic balance. The administration is also exploring innovative solutions, including a currency competition scheme that will allow Argentines to use Bitcoin for everyday transactions alongside the peso.

This move is part of broader efforts to diversify payment methods and enhance financial inclusion in the country. As Argentina navigates through economic challenges, its embrace of cryptocurrencies like Bitcoin reflects a growing recognition of their potential to empower citizens and stabilize the financial system.