LocalBitcons, a Bitcoin buying and selling platform, announced last week that a record was broken in Venezuela. Due to the economic and government crisis in Venezuela, there has been an increase in Bitcoin purchases for a while, and the number of citizens who own cryptocurrencies in the country is constantly increasing. Whether or not Venezuelans are hopeful for the future of cryptocurrencies, they are aware that buying cryptocurrencies can cause much less depreciation than if their currency suddenly depreciates. The reason for the low use of Petro in the country and the high use of Bitcoin is that they do not trust the country’s currencies and Nicolas Maduro’s decision of the Petro.
Bitcoin use broke a record
LocalBitcoins,
in Venezuela last week 7 announced that close to a million dollars of Bitcoin was purchased and that there was a record interest in cryptocurrencies in the country. It has been stated that not all of the people who buy Bitcoin are people with low income, and the interest of the wealthy rich of the country in cryptocurrencies has an increasing trend. Venezuela is facing a number of problems arising from Nicolas Maduro, who declared that he will not hold elections after the warnings of the USA and the warnings of the EU, and these problems have not been solved yet.