/biz/ - Business & Finance

1 BTC is around 150,000,000 bolivares. A month ago it was 85,000,000 Bs. Monthly minimum wage is less than 5 USD (it was 30 USD a year ago). 591 BTC were traded on localbitcoins in Venezuela last week (previous week was 562 BTC) which is around 76,492,000,000 Bs (all time high for Venezuela)

The biggest bank note is 50,000 Bs. which is less than 4 USD. You need to use debit and credit, bank transfer, cryptos and USD to pay anything.
This after 5 zeroes were shaved from the currency less than a year ago and 3 zeroes more 12 years ago. So it would be 5,000,000,000,000 Bs.

Sources:
https://coin.dance/volume/localbitcoins/VES/BTC
https://www.bloomberg.com/features/2016-venezuela-cafe-con-leche-index/
https://dolarsatoshi.com/

About the minimum wage
https://www.venezuelanews.net/news/260700087/the-president-of-venezuela-raises-the-minimum-wage
40,000 Bs. per MONTH plus 25,000 Bs. as food bonus, total 65,000 Bs. per month. Around 4 USD at street rate and 5 USD at official rate.

Bitcoin is thriving where people need it the most!