Venezuela Shatters Bitcoin Trading Records With 500,000,000 Bolivars Per Week

Trading between Bitcoin and the Venezuelan Bolivar (VES) has beaten all records to pass 500 million for the first time last week. 7 Days, Half A Billion Bolivars Data from Coin Dance, which tracks volumes on P2P platform Localbitcoins, confirms that the seven days ending August 25 saw BTC/VES achieve volumes never seen before. The […]

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Venezuela’s Central Bank Unveils App to Convert New Crypto-Pegged ‘Sovereign Bolivar’

Hyperinflation in Venezuela is so bad, the nation’s Central Bank has released an Android app to help citizens calculate how many new sovereign bolivar units they possess. The release arrives after the national government re-denominated the old currency last week.  As hyperinflation mounts in Venezuela, the national government seems to be staking nearly all it has […]

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Venezuela: Inflation Tops 100,000 Percent, Bitcoin Costs 60M Bolivars

Venezuela’s currency the Bolivar Fuerte jumped to 9.2 million per dollar and almost 60 million per bitcoin August 18, just two days before a major redenomination cuts five zeros off its value. Redenomination Looms As reported by cryptocurrency commentators including Purse.io support head Eduardo Gomez, the bolivar traded unofficially at around 6.7 million VEF per […]

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