According to the latest information from Bitcoin.com, they have reported on this. I don't know if this is a bad effect or a good effect on the market? Everyone can make a point here.
Venezuela is one of the country that experience hyper inflation, there residents migrated to other near countries due to the economic problem. The reason why the government of Venezuela are now holding bitcoin is because it can fix an economic issues.
In what way can it fix the economy problem is what I am still looking at, even if they make investment in bitcoin, and the value grows so high to the level where they will have so much money, I dont think that can still solve the economic system. Before bitcoin can do anything to assist their economy, they must first of all deal with their government operation which to me, I think is very bad and porous.
I think instead of bitcoin alone, they need to change their entire system to full decentralized system except their economy, even the way they run their government needs to be fully decentralized so that they can have a very transparent system for their citizen to make a meaningful contribution, and I think one of the reason why they are failing is actually bad leadership.