Forex and Crypto News

Venezuelan residents continue to buy Bitcoins

14:33 02 September /2019

In Venezuela, Bitcoin trading volumes continue to grow at a rapid pace. The activity of the country's citizens is fueled by constantly accelerating inflation.

On cryptocurrency platforms trading systematically shows records, as Venezuelans invest more and more of their money in Bitcoin.

According to Coin Dance, Venezuelan citizens bought 533 Bitcoins in a week. A week earlier, a record was reached at 465 Bitcoins.

A similar situation is observed in Argentina, where the national currency is rapidly becoming cheaper, which even forced local authorities to limit foreign exchange purchases to reduce the outflow of capital from the country.

Observers note that Bitcoin is becoming a new shelter for capital, gradually displacing gold. If in Venezuela and Argentina, fiat currencies continue to weaken, investment in BTC will increase.

According to Twitter user, Preston Byrne now is the best time to buy Bitcoins, as soon the coin will move to growth amid increased control over the movement of fiat currency in Argentina.

 

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