100,000 Cubans out of a total population of 11 million are using crypto currncies for payment, according to a 2 May 2022 NBC report. Primarily, they are doing that to bypass financial sanctions imposed on their state.
I also suspect some of them do that to bypass numerous controls their highly oppressive Communist state imposes on them.
This is a very interesting tidbit. I wonder if, among other things, crypto is going to hasten the collapse of various top-down oppressive regimes around the world.
References
Report: 100,000 Cubans Are Using Cryptocurrencies to Bypass Financial Sanctions
Jamie Redman, Bitcoin.com, 3 May 2022
Cuba (wiki)
Archived 9 September 2020
Cryptos have recently lost trust in the world. I think there is a long way for them to collapse the economy of a country.
You can view it this way but it is still a fact that the overall crypto valuation today is several times higher than it was at its height 5 years ago.
Yes, but we don't know what will happen after the next interest hiking of FED.
We also don't know what will happen the next time the Fed decides to print a few trillion dollars. 😃