Bitcoin is Set to Displace the Bolívar in Venezuela

Bitcoin is shaping up to be the unofficial legal tender in Venezuela as the country continues to suffer the effects of hyperinflation in its currency. Venezuela has become a shadow of its former self as the once prosperous oil-rich country now struggles to provide citizens with the most basic needs of life.  The global crash in oil prices dealt a tragic blow on the country’s economy – its foreign reserves had $43B in 2009 but it has less than $11B now.

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2 comments on “Bitcoin is Set to Displace the Bolívar in Venezuela
  1. fonestar says:

    Yes! Go Bitcoin!! Today Venezuela and tomorrow teh world!

    And thanks Max & Stacy for getting ‘ol fonestar into Bitcoin back in 2011!

  2. Mr.Proxy says:

    Hey fonestar. You’re back from the dead. why arnt you on zerohedge anymore? Good to see youre still about.

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