The economic crisis in Venezuela has led to 1 bolivar having a value of less than 1 satoshi of Bitcoin, that is why Bitcoin is gaining in importance in the country, to the point that some establishments only support this currency.

Bitcoin is a cryptocurrency open to everyone and that provides important things, such as an economy without borders and access to capital to all people who need it, and it has greater value than any paper-currency. Venezuela suffers from high inflation and the bolivar, its national currency, has hardly any value, it has so little that today an unprecedented barrier has been broken: 1 satoshi is worth more than 1 bolivar. Bitcoin has a value of $ 4.250, which is equivalent to that 1 satoshi is worth $ 0.00004, while 1 bolivar has an exchange value of $ 0.00003571.

Reddit has been the one who has raised the alarm in this regard, all thanks to LocalBitcoins, a platform used by Venezuelans to buy Bitcoin in a simple and efficient way. The reality is that the bolivar should have a value of $ 0.1 according to official rates, but this change only occurs for the country's elites and the rest of the people, it must end up accessing the black market. Fraud in foreign exchange providers is an important issue in the country, a conflictive issue in the country, through companies that overvalue the sale price of items that preferentially import dollars.

Venezuela, in the last year, has increased in acceptance in the country and despite the fact that it is not an effective currency in the country, there are businesses and people who only accept this cryptocurrency to operate, since it is not regulated by any bank, which may manipulate the price. Bitcoin has the value that we users give it and the recent attacks from China have simply allowed many users to increase capital, buying lower and now that it has risen a lot, some have seen the value of their wallets increase.