News, Editorials & Opinions

Inflation at 8900% Turns Venezuelans to Bitcoin In Record Volumes
Apr 20, 2018
 

The Bolivarian Republic of Venezuela is home to one of the worst hyperinflation crisis in the world ever. President Nicolas Maduro blames external factors and U.S. sabotage for the chaos Venezuelans live in. Inflation has skyrocketed to 8900% in March 2018, according to tradingeconomics.com.

As the value of the Venezuelan Bolívar plunges in the streets of Caracas, which lowers the purchasing power of the official minimum wage, the government keeps issuing more currency as it raises the nominal minimum wage.

Source: NewsBTC (https://www.newsbtc.com/2018/04/20/inflation-at-8900-turns-venezuelans-to-bitcoin-in-record-volumes/)

Start a free trial today. No credit card required.

 

Free Trial