Crypto gains foothold in Bolivia as small businesses seek currency alternatives
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…
