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Venezuelans try to beat hyperinflation with cryptocurrency revolution

Venezuelans try to beat hyperinflation with cryptocurrency revolution



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  1. This is not surprising, Venezuela was at the forfront of crypto adoption when the government released Petro in 2018, but the US smothered this initiative so the token never gained ground

  2. “Blockchain analysts from New York-based Chainalysis also say cryptotraders from Venezuela are among the most active in the world, ranking close to those in the US and Russia when it comes to peer-to-peer (P2P) dollar-based cryptotrading.

     
    Jose Maldonado, a journalist who writes for crypto news platform Cointelegraph, says it’s even possible to pay street vendors with digital coins in some bigger Venezuelan cities like Caracas, Maracaibo or Valencia. The trend was also spreading to traditional brick-and-mortar stores, he told DW in an email.”

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Bitwise CIO discusses prospects of a bitcoin ETF

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