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2019-07-08 22:36:31

Bitcoin adoption is increasing in Venezuela; is dollar at threat?

Venezuela, suffering from hyperinflation, has had its bank releasing new bank notes of ten thousand (10,000), twenty thousand (20,000) and (50,000) bolívar. The fiat currency is a wreck and the only sector of the country that is relatively well off than the rest is the oil sector. Constant electricity breakdowns are worsening the conditions as they already are deteriorating. Trade Economics stated that the central bank’s statistics showed that the Venezuelan economy shrank over twenty-two percent (22.5%) at the end of 2018 and then recently, over seventeen and a half percent (17.6%). The other sectors shrank twenty-two percent (22%), after