Venezuela increases the salary by 300% and now it is 0.00003534 monthly bitcoins - Luke is Alive #49 May 02, 2021
The Venezuelan government announced this Saturday, May 1, an increase in the mandatory monthly minimum wage for all workers. The decree adjustment raised employee income from 1,800,000 to 7,000,000 million bolivars, roughly 0.00003534 bitcoins or $ 2.50.
Hyperinflation and the devaluation of the bolivar as the national currency of Venezuela has led Venezuelans to use more and more bitcoin as an alternative to avoid hyperinflation and protect the value of their assets unlike the petro, which does not end up climbing within the national economy.
Traders would be using the main cryptocurrency to protect themselves against potential "financial corralitos" and mobilize their funds without restrictions. It must be remembered that, according to Chainalysis, Venezuela is the third country in adoption of Bitcoin and cryptocurrencies.
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