Global markets have been in a tailspin since the US military took military action against #Venezuelan smugglers and Washington’s escalation of its political stance against the #Venezuelan government. The rising tensions have sent oil prices soaring, weighed on the stock market and caused a short-term pullback in #Bitcoin.
But amid all this, one thing is being overlooked. #Venezuela is one of the oldest and most real examples of popular #Bitcoin adoption in the world. Years of rampant inflation, capital controls and the collapse of the national currency have driven a large portion of the country’s population away from #Bitcoin as a means of storing value and transferring money.
For many #Venezuelans, #Bitcoin is not a speculative asset. It is a necessity. Money that is not tied to the government cannot be, and will not be, devalued by political decisions.
Short-term price increases or decreases in response to geopolitical tensions do not diminish this fact. Every time political and economic pressure intensifies, the reason for #Bitcoin's existence in real life becomes clearer. nostr:nprofile1qqsqfjg4mth7uwp307nng3z2em3ep2pxnljczzezg8j7dhf58ha7ejgpp4mhxue69uhkummn9ekx7mqpzemhxue69uhhyetvv9ujuurjd9kkzmpwdejhgl426zu
