Financial Stability

Many investors in the U.S. think of crypto as a volatile investment. This may be because the U.S. dollar is the world’s reserve currency and still one of the most stable currencies on the planet. To a country like Venezuela, crypto actually represents a more stable form of money. This notion is more than a pipe dream or an experiment — Nigeria, Australia, Spain and Canada have all doubled their use of Bitcoin year over year.

In countries like Venezuela, the population is literally using Bitcoin to save its life. The government cannot exercise nearly as much control over cryptocurrency as it can a fiat currency. Russia is trying to create its own crypto and criminalize any other nonsanctioned competitor. The people of Zimbabwe prefer crypto to the gold-backed currency the government is pushing.

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