• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Ripple CTO Steps Down, Accepts New Offer – What You Need To Know
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Ripple CTO Steps Down, Accepts New Offer – What You Need To Know
Crypto

Crypto To The Rescue? Bolivia’s Energy Firm Plans Payments In Digital Assets

Christian Encila
by Christian Encila
6 months ago
·
Posted in News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Yacimientos Petrolíferos Fiscales Bolivianos (YPFB), Bolivia’s state-owned energy corporation, has elected to utilize crypto as a payment method for fuel imports. The country is currently grappling with a shortage of US dollars and an ongoing fuel crisis, which has resulted in lengthy lines at gas stations.

Related Reading: Metaplanet Keeps Stacking Bitcoin—Now Sits On 3,050 BTC

Fuel Crisis And Dollar Shortage

Bolivia is facing financial difficulties due to the decline in natural gas exports, which were once a major source of foreign currency. The decline in US dollar reserves has made it more difficult to pay for imported fuel. s a result, fuel shortages have been a source of public discontent and demonstrations in Bolivia.

The government has approved YPFB using crypto to purchase gasoline supplies. The company has not yet carried out any even though it has license to do transactions using digital assets.

Bolivia’s YPFB will use cryptocurrency for energy imports amid a dollar shortage, mirroring Venezuela’s failed petro experiment. Fuel protests continue as the country struggles with declining natural gas exports. https://t.co/JtmWTnhRJW

— OilPrice.com (@OilandEnergy) March 12, 2025

Crypto As A Payment Method

The way YPFB looks at digital currency payments matches an increasing trend in other South American countries. Nations like Venezuela and Argentina use digital assets to get around financial limits and make international trade possible. Bolivia’s decision should keep the government’s fuel subsidy program running, even though it doesn’t have much money.

BTCUSD trading at $82,090 on the daily chart: TradingView.com

Bitcoin Ban

Bolivia’s central bank banned Bitcoin and other cryptocurrencies until June 2024, citing economic struggles and alignment with regional regulations. However, the ban was lifted as crypto gained global acceptance, with countries like El Salvador, Argentina, Brazil, and Mexico adopting it earlier.

Source: Geographic Guide

YPFB hasn’t fully disclosed which cryptocurrencies it wants to use, but officials think digital assets could be a good way to make payments across borders. The lack of money makes traditional transactions progressively difficult. Bolivia might have a different payment option thanks to cryptocurrencies that lets it keep importing gas.

An image rendering of an oil field in Bolivia. Source: Gemini Imagen.
Related Reading: Bitcoin Goes Corporate: Major Brazilian Firm Adopts BTC Strategy

Impact In The Energy Domain

Bolivia’s financial problems have worsened the situation since the nation depends much on imported petroleum. Cryptocurrencies could help keep the energy supply stable by giving people a new way to pay for things from other countries. Still, it’s not clear how well this method will work to solve the bigger economic problems that are at play.

Meanwhile, crypto payments may pose legal and volatility problems, experts say. Despite their fears, the government believes this is important to secure the oil supply. Bolivia’s approach could inspire other countries with financial issues if its plan works.

Featured image from Gemini Imagen, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Christian Encila

Christian Encila

Follow

Christian, a journalist and editor with leadership roles in Philippine and Canadian media, is fueled by his love for writing and cryptocurrency. Off-screen, he's a cook and cinephile who's constantly intrigued by the size of the universe.

Full Profile

Related Posts

crypto

Eric Adams, New York’s Crypto-Friendly Mayor, Won’t Seek 2nd Term

1 day ago
India

India Cracks Down: Stricter Rules To Combat Rising Digital Payments Fraud

4 days ago
Philippines

Philippines Authorities Move To Put Key Public Records On Blockchain After Mass Protests

5 days ago
Nepal

Jack Dorsey’s Bitchat Becomes Lifeline For Nepalis In Protest Crisis

2 weeks ago
PrimeXBT: Empowering Traders in Crypto Space

PrimeXBT: Empowering Traders in Crypto Space

3 weeks ago
solana-analyse-tendance-leviers-techniques

Solana en route vers les 300 $ : analyse de la tendance des leviers techniques

4 weeks ago

Premium Sponsors

Press Releases

  • 距離上線僅剩3周:Snorter代幣ICO融資突破 415...

    22 hours ago
  • 上線倒計時:僅剩25天可搶購 Snorter Bot 代幣

    5 days ago
  • 加密錢包掀起發幣熱潮 Best Wallet...

    7 days ago
  • Bitcoin Hyper

    ChatGPT предсказва следващата 1000x...

    1 week ago
  • Snorter надхвърли $4 милиона след...

    1 week ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.