You are viewing a single comment's thread from:

RE: LeoThread 2024-11-19 11:14

A cup of coffee now costs 2,800 bolivars (21p; 28 cents), up from 0.75 bolivars 12 months ago - an increase of 373,233%, according to Bloomberg data. And that's after a 2018 devaluation that knocked five zeros off the currency.

More than three million Venezuelans have left the country, as essential goods such as toilet paper and medicine have become unaffordable and crime has soared.

As a result, many are turning to digital assets such as Bitcoin as an alternative to the Venezuelan bolivar.

And given how volatile Bitcoin is - its value has plunged from nearly £15,000 in 2017 to less than £3,000 now - it's an indication of just how desperate people have become.