Bitcoin a Better Bet Than Bolivars as Venezuelan Hyperinflation Escalates
Bitcoin can be many things depending on the situation. For many it is a store of value, for some, it is a trading vehicle, but for Venezuelans, BTC is the most reliable hedge against...
Maduro: Petro Public Sale In November While Website and Wallet Are Live
Venezuelan President Nicholas Maduro has made a series of announcements concerning the Petro. Currently, the public sale for the controversial virtual currency is set for November 5th...
Venezuela Shatters Bitcoin Trading Records With 500,000,000 Bolivars Per Week
Trading between Bitcoin and the Venezuelan Bolivar (VES) has beaten all records to pass 500 million for the first time last week. 7 Days, Half A Billion Bolivars Data from Coin Dance...
Venezuela’s Central Bank Unveils App to Convert New Crypto-Pegged ‘Sovereign...
Hyperinflation in Venezuela is so bad, the nation’s Central Bank has released an Android app to help citizens calculate how many new sovereign bolivar units they possess. The release...
Venezuela: Inflation Tops 100,000 Percent, Bitcoin Costs 60M Bolivars
Venezuela’s currency the Bolivar Fuerte jumped to 9.2 million per dollar and almost 60 million per bitcoin August 18, just two days before a major redenomination cuts five zeros off...
US Treasury Warns Investors: Venezuela’s Petro Could Violate Sanctions
The US Treasury Department has cautioned investors that Venezuela’s Petro could be in violation of Washington-imposed financial sanctions. In December last year, Venezuelan president...
Venezuela Launching Oil-Backed Cryptocurrency – the Petro!
President Nicolas Maduro of Venezuela has announced the creation of a new national digital currency – the Petro. He believes that this cryptocurrency will fight off the effects...
One Satoshi Now Equal To One Venezuelan Bolivar
Venezuelan hyperinflation has now reached the level where one satoshi unit is now equal to a single Venezuelan bolivar. Black market prices for Venezuelan bolivar are now equivalent to...
Venezuela Arrests 4 Bitcoin Miners as Trading Highs Continue
Venezuela has arrested a group of Bitcoin miners for allegedly “affecting stability” of the country’s electricity supply. Thirsty Work Causes Problems for Miners As reported in...
‘Sorry, Bitcoin Only’: Venezuelan Travel Agency Responds to Hyperinflation
Venezuelan online travel agency Destinia will now only accept Bitcoin for payment citing “increasing restrictions” and economic woes in the country. Travel Agency...
Bitcoin Liftoff? Now Venezuela is Ditching Big Bills to ‘Fight Mafia’
Venezuela has announced the sudden withdrawal of its highest-value banknote, replacing it with coins ahead of a sudden major currency restructure. President to Mafia: ‘Stay...