Bolivia’s Small Businesses Embrace Crypto Amid Financial Crisis
Small businesses in Bolivia are now accepting crypto as payment. This shift is due to the country’s ongoing financial troubles. Restaurants and beauty salons are among those leading the way.
According to Reuters, crypto transactions have surged by 530% in the first half of 2025. The central bank reports that thes transactions jumped from $46.5 million to $294 million. People are losing trust in the official currency.
The country faces a major financial crisis.The bolivian currency has lost value. The central bank has run out of dollar reserves. Fuel shortages and high inflation make crypto seem stable. Bitcoin and Tether are popular choices. Jose Gabriel espinoza, a former central bank head, says daily USDT volumes may reach $600,000. While this is a small part of the black market, crypto reliance is growing. Bolivia’s situation mirrors Turkey and Lebanon. These nations also turned to crypto due to inflation. In Latin America, Argentina saw over 100% inflation in 2023. This led to widespread crypto use for daily payments.
Why is this happening? The Bolivian currency is weak. Crypto offers a safer option for savings.
- Bolivia’s currency lost half its value.
- Crypto transactions rose sharply.
- Argentina had over 100% inflation in 2023.
bolivia joins other countries in this trend. Turkey and Lebanon saw similar adoption in 2023. Inflation pushed citizens to seek stability in Bitcoin.
Argentina had over 100% inflation in 2023. Argentinians received $85.4 billion in crypto that year. This trend shows how crypto can definitely help in tough times. It protects savings and buying power.
As the crisis deepens, crypto adoption will likely continue. This trend shows how crypto can offer a lifeline. It helps people protect their money.
