Argentines Favor Bitcoin Over Stablecoins, Pesos in Lemon Wallet

Lemon, a financial app and crypto wallet, reports that among its 5 million users in Argentina and Peru, Bitcoin is the most popular asset, accounting for 34.54% of reserves. Stablecoins and Argentine pesos follow at 25.71% and 21.19%, respectively. Ethereum holds 10.61%, while Solana and XRP together make up 3.35% of holdings.

Proof of reserves snapshot on November 3, 2025 | Source: Lemon

Bitcoin purchases increased by 126% in 2024, with over 800,000 users holding BTC.
Stablecoin purchases rose by 44.4%, indicating a shift towards Bitcoin as a long-term investment.
Lemon's cashback model has distributed over $29 million in Bitcoin since 2021.

The trend reflects changing perceptions of Bitcoin from speculative to long-term investment in Argentina, despite some large holders selling off assets.

In contrast, high-conviction institutions continue accumulating Bitcoin, with notable purchases like Michael Saylor's Strategy acquiring $45.6 million worth of BTC recently.