Hyperinflation Pushes Venezuelans To Hold Bitcoin

Hyperinflation Pushes Venezuelans To Hold Bitcoin

The national fiat currency (bolivars) of Venezuela has been suffering a serious hit in value (hitting increase in 8 million percent in 2019) due to the nation political and economic crisis. The number people in the country who started to switch their bolivars for Bitcoin are going up, the trade volume tracking platform shows total volumes in Venezuela on Localbitcoins reached 35.9 billion sovereign bolivars (VES) reaching highest in history.

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