Bitcoin & Venezuela - A Glimpse Into Our Future!

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The small South American country of Venezuela has been hit heavily with its second wave of hyperinflation in four years. The cause of this is their central bank’s reckless rapid money printing and debasement of its currency – the Bolivar.

It is totally worthless, and the country’s economy is in turmoil.

As the US, Europe, and other major global economies continue to create trillions and pump these into the world’s economy to keep it afloat following the COVID 19 pandemic, events in Venezuela show us what we can expect in the next few years – a worthless currency and a shattered economy.

The Venezuelan government has understandably been looking for alternatives to the Boliav and have begun to accept Bitcoin of all things, as payment for the renewal of Venezuelan passports!

A taste of things to come for us?!?

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Medium: @31gurmit
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