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Venezuela is reportedly paying companies in allied countries, including Iran and Turkey, with bitcoin to mitigate the effects of U.S. sanctions on its economy. The Venezuelan government is also planning to increase bitcoin usage now that it has a dedicated cryptocurrency mining center. Venezuela Uses Bitcoin to Pay for Imports Venezuela has been using bitcoin … Read more
Venezuelans have become increasingly interested in cryptocurrency as their country faces dire economic crisis and hyperinflation, a new study by blockchain data analytics firm Chainalysis shows. The firm’s Global Crypto Adoption Index ranks Venezuela third as “The country has reached one of the highest rates of cryptocurrency usage in the world.” Cryptocurrency Adoption Soars in … Read more
Venezuela’s President Nicolas Maduro has announced that he is airdropping cryptocurrency to every doctor in his country as a token of appreciation for their work to combat the coronavirus outbreak. The national cryptocurrency, the petro, will be distributed via the Homeland card (Carnet de la Patria). Also read: IMF Declares Global Recession, 80 Countries Request … Read more
