Post
Topic
Board Economics
Re: Venezuela Is Now More Than 50% Dollarized, Study Finds
by
mu_enrico
on 21/01/2020, 12:20:20 UTC
Yeah, they need a stable currency. What could be better than USD as a medium of exchange? Bitcoin surely was not ready to be used as cash to purchase daily needs. However, it doesn't mean that Bitcoin is useless. We know that Bitcoin is more difficult to confiscate so that it can be used as a store of value. This is important for the people who live in an authoritarian government.

They can store some of their wealth in Bitcoin and cash out when they need to buy stuff.