I don't think the adquisitive power of Venezuela is high enough to significantly influence the Bitcoin price. It's more a matter of pure survival - they found something that doesn't become worthless in a few months that they can use as a store of value. But when your store of value is so small, you have to take from it to survive in day-to-day life, it also becomes a medium of exchange. 10 years ago, the black market was all about USD. Now, bitcoin is right up there with USD on dolartoday.com. They have a real need and Bitcoin & co solves a real problem.
RE: Venezuela, Hyperinflation, and Ethereum
You are viewing a single comment's thread from:
Venezuela, Hyperinflation, and Ethereum
I would expect some people with wealth are buying a lot of cryptocurriencies in Venezuela, Greece and India. India has enacted very strict currency controls.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit