Argentina's President Javier Milei has authorized the use of Bitcoin and other cryptocurrencies in contractual agreements and payments.

The move is part of efforts to stimulate economic growth and tackle hyperinflation and currency devaluation.

This initiative is seen as a game-changer, aiming to stabilize the economy by providing residents with more financial options.

Challenges related to transaction security and market stability are yet to be addressed.

The long-term impact of this decision on Argentina's economy and the global financial landscape is still uncertain.