UTC-05:00,Saturday , March 28th 2020

Bitcoin Not Used As Store Of Value In Venezuela, But As Bridge Currency: Research

23:31 Wednesday , March 25th 2020
Matt Alhborg, a data-scientist and researcher at dlab.vc, found through a black-out in Venezuela that how Venezuela dominates the crypto scene in South America. It also suggests that Bitcoin is primarily used as a ‘bridge currency’ between US Dollar and the local currencies.
The electricity black-out occurred on March 7 with which economic activities across the country came to a halt for several days. In the midst of this incident, Alhborg observed a drastic drop in the Bitcoin and crypto trading volume in Venezuela.
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