Venezuela and Argentina adopt cryptocurrencies. Discover how inflation has driven their adoption in Latin America.
Brian Armstrong, the CEO of Coinbase, recently expressed his support for the adoption of Bitcoin as official currency in another Latin American country. According to him, "economic freedom is the basis of all freedoms." This statement highlights the importance of crypto in the fight for economic freedom, particularly in countries like Venezuela.
The Venezuelan opposition is exploring radical solutions to address the situation in the face of the country's economic collapse. Indeed, it proposes to use Bitcoin as a national reserve. The stabilization of this economy, devastated by years of mismanagement, depends on the recognition of Bitcoin as a store of value.
Venezuela is seeking to join the BRICS group by leveraging its vast oil reserves. This move underscores the country's geopolitical ambitions and its aspirations to reshape its international alliances.
As Maduro seems to have orchestrated a massive election fraud to stay in power, Venezuela tragically marches towards total and imminent collapse.
Things are heating up between Venezuela and Guyana right now. The reason? Nicolás Maduro wants to reclaim Essequibo, a territory awarded to the British in 1899 following a “partial” decision by the judges of the time. Burdened by massive inflation, Venezuela needs to find other alternatives to get its economy back on track. And if that means the annexation of 2/3 of Guyana, where there are oil and other mineral resources, so be it.