Venezuelans See Bitcoin Alternative to Devalued Bolivar, Volumes Hit Record High

[kreslik.news]

Recent data from VeneBloc‏ ‏pointed out that Venezuelans’ Bitcoin trading volume has ‎jumped to the equivalent of $1.009 million in bolivars on April 17. There seems to be ‎ever-increasing excitement about the cryptocurrency in Venezuela amid growing ‎economic chaos, and the highest inflation rate in the world.‎

‎Individuals and businesses are swapping bolivars ‎for cryptocurrencies in order to buy daily life necessities or pay their ‎employees.‎

Venezuelan people sees the digital currency as a safe alternative in ‎an economy where the government has enforced strict foreign ‎exchange controls since 2003, combined with inflation rate that is running at an ‎estimated 9000 percent ... (read more)