Sunday 14 May 2023

Inflation in Venezuela was "only" 86% the first four months of the year. It was over 57million percent between 2016 and 2019, speeding up the usage of others means of payment like Bitcoin.


I have do to the math, but even buying BTC at ATH you would have better performance than keeping the Bolivares.Numbers are:January: 42%February: 19%March: 6% (Lowest since March 2022)April: 4%These last numbers are like a relief, anything under 10% is considered good and a success.Between 2016 and 2019, inflation rate was 57,798,500%.Since 2018 they removed 11 zeroes from the currency by law. Monthly minimum wage is around 5 USD (But now the government added some bonuses that are around 60 USD monthly), average wage is around 120 USD monthly and some prices are higher than NY. Only 10% of the population has an income over 350 USD monthly.Living here is really hard.(Keep an eye in Argentina, they are heading the same way)https://bit.ly/3BnusfN via /r/Bitcoin https://bit.ly/3BpUWgs

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