Navigating Venezuela’s Economic Chaos with Crypto
Venezuela is in a terrible mess right now. Hyperinflation and economic collapse have made life almost impossible for many. So what do people do? They turn to cryptocurrencies as a way to salvage what little they can. Bitcoin and stablecoins have become crucial lifelines, helping citizens keep their savings intact and engaging in transactions amid all the madness.
Hyperinflation and the Bolivar Crisis
To give you context, Venezuela’s economy has been in freefall for years. The hyperinflation rates were over a staggering 1 million percent in 2018 alone. The bolívar, the national currency, has become practically worthless. People are scrambling to find something—anything—that can help them hold on to their wealth. This is where…
