February 12, 2019, 12:44PM EST
• 3 min read

LocalBitcoins volume in Venezuela reaches all-time highs

Quick Take

  • The weekly traded volume on LocalBitcoins in Venezuela hit all-time highs this week as it reached a USD equivalent of $9 million
  • One of Bitcoin’s most important qualities is an inflation hedge useful primarily in countries suffering from irresponsible monetary and fiscal policy
  • Venezuela is the only country where there is a correlation between the increasing inflation rate and increasing traded volume on LocalBitcoins

Join The Block Research for exclusive research like this

Gain access to this research piece and 100s of others, including ecosystem maps, company profiles, and topics spanning DeFi, CBDCs, banking and markets. Together with additional services, we help organizations understand what’s happening in the rapidly developing digital asset ecosystem.

Already a Research Member? Login Here