Devaluation

Central Bank of Bolivia Selling Dollars Directly to Citizens as Devaluation Fears Rise

March 11, 2023 Bitcoin.com

bitcoin.com

The Central Bank of Bolivia is now selling dollars directly to citizens in order to curb what it is calling a speculative attack that has increased the demand of the population for foreign currency. This rise in demand has been caused by several factors which led the population to believe there might be a devaluation […]

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US Bitcoin strategic reserve divides opinion at World Economic Forum

Like Venezuela, Some Retailers in Argentina Are Now Pricing Items in Dollars

March 8, 2023 Bitcoin.com

Alberto Fernandez

Some retailers in Argentina are already pricing imported items in U.S. dollars, according to reports from local news outlets. The idea behind this would be to keep prices stable and avoid repricing articles each day, a practice that has already been adopted in other Latam countries like Venezuela, which present high levels of inflation. U.S […]

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US Bitcoin strategic reserve divides opinion at World Economic Forum

Latam Countries Prepare Regional Agreement to Counter Rampant Inflation

March 4, 2023 Bitcoin.com

anti dollar

A group of countries in Latam is preparing a regional agreement to address inflation, a problem common to most nations in the region. The initiative, which is being spearheaded by Mexican president Andres Lopez Obrador, would allow the exchange of products with high prices between the states to lessen the effects of price rises. Latam […]

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US Bitcoin strategic reserve divides opinion at World Economic Forum

Crypto Dominates as Payment Method for Remote Workers in Latam

February 20, 2023 Bitcoin.com

Bitcoin

Most remote workers in Latam prefer to get paid in crypto, according to the latest report from the Deel Lab for Global Employment. The reasons behind the finding are said to be diverse, but include the instability of some of the local fiat currencies, and the influence of high levels of inflation in the region. […]

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US Bitcoin strategic reserve divides opinion at World Economic Forum

Central Bank of Argentina to Issue New 2,000 Peso Bill as Inflation Keeps Rising

February 7, 2023 Bitcoin.com

2000 peso bill

The Central Bank of Argentina has announced the issuance of a new 2,000 peso bill, aimed at easing the burden of using cash for payments in the country. The bill, which will have a value of a little more than $5 ‘blue’ dollars (the informal exchange rate), is already being criticized as an insufficient measure. […]

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US Bitcoin strategic reserve divides opinion at World Economic Forum

Cryptocurrency Rose Ranks in Popularity as Investment Option in Chile in 2022

January 10, 2023 Bitcoin.com

Bain & Company

Cryptocurrencies rose in popularity in Chile, according to a survey from global consulting firm Bain & Company. The survey found that crypto is ranked as the third most popular investment asset among Chileans, only behind investment funds, which were the most popular investment option, and real estate, which ranked second. Popularity of Crypto Rises in […]

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US Bitcoin strategic reserve divides opinion at World Economic Forum

Venezuelan Banking Watchdog to Oversee Crypto Transactions to Preserve Currency Stability

December 30, 2022 Bitcoin.com

bank accounts

Sudeban, the Venezuelan banking watchdog, is currently working on a mechanism to review crypto-related transactions in real-time to control the influence these have on the stability of the exchange market. Analysts have recently linked the situation in peer-to-peer (P2P) crypto markets to the recent drop in the value of the bolivar. Venezuelan Government to Monitor […]

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US Bitcoin strategic reserve divides opinion at World Economic Forum

Argentine Peso Breaks Historic Low Mark as Argentines Hedge Savings in Dollars

December 29, 2022 Bitcoin.com

Alberto Fernandez

The U.S dollar-Argentine peso exchange rate escalated during December, with the Argentine fiat currency reaching new historic lows as citizens ran to exchange their holiday payments for dollars. The U.S. dollar reached a value of 356 pesos on December 28, losing almost 10% during just one week, and threatening to spur a more significant inflationary […]

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US Bitcoin strategic reserve divides opinion at World Economic Forum

Venezuelan Currency Plunges Almost 40% Against the US Dollar, Analysts Cite Crypto Drought as Part of the Problem

November 27, 2022 Bitcoin.com

Asdrubal Oliveros

The Venezuelan fiat currency, the bolivar, has lost almost 40% in its exchange rate against the U.S. dollar in a month. According to reports, the seasonal payments that the government has to make, and the lack of liquidity of the government to intervene in the currency market are part of the equation leading to this, […]

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US Bitcoin strategic reserve divides opinion at World Economic Forum

Chainalysis: Stablecoins Used to Fight Devaluation and Inflation in Latam

October 24, 2022 Bitcoin.com

Argentina

According to Chainalysis, a crypto auditing and blockchain tracking firm, the use of dollar-pegged stablecoins is growing in Latam, specifically in Argentina and Venezuela, due to the common economic problems that both countries are facing. 34% of the “small” transactions include stablecoins in Venezuela, and 31% of these in Argentina, as citizens seek to shield […]

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US Bitcoin strategic reserve divides opinion at World Economic Forum