Bolivians using crypto as hedge against currency devaluation

Crypto ATMs, stores accepting Bitcoin or Tether pop up in cities

Economists warn trend is not a sign of stability

Other Latam countries have also been adopting crypto

By Santiago Limachi and Lucinda Elliott

COCHABAMBA, Bolivia, June 26 (Reuters) – In the busy shopping district of the Bolivian city of Cochabamba, ATMs let shoppers swap coins for cryptocurrency, beauty salons offer cut-price deals if you pay in Bitcoin, and people use Binance accounts to buy fried chicken.

Bolivians are facing a rising economic crisis, with reserves of dollars near zero, inflation at 40-year highs and fuel shortages causing long lines at the pump. The country’s currency has lost half its…