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Why are Venezuelans seeking refuge in crypto-currencies? [View all]
Venezuela has seen its currency rendered practically valueless after suffering one of the worst periods of hyperinflation since World War Two.
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.
https://www.bbc.com/news/business-47553048
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