The VeneBloc site reported about a significant increase in the volume of transactions for buying bitcoin in Venezuela. Two days ago the residents of this country bought BTC for 1 million dollars.
Among Venezuelans the popularity of cryptocurrency is constantly growing. The citizens use it as a way of buying dollars or other foreign currencies. It happens on the background of fall of national currency - bolivar.
Venezuela recently issued its own cryptocurrency, called Petro. The attitude to the new digital currency is ambiguous. It is banned in the US and, at the same time, it received a reward of the Russian Association of Crypto-Currency and Blockbine (RACIB). The award was issued for "outstanding contribution to the development of the blockbuster industry."
Some experts suggest that the Venezuelan national cryptocurrency could be developed with the support of Russia. But this statement was recently refuted by the Russian Finance Minister.
Earlier the President of Venezuela Nicholas Maduro issued a decree about mandatory acceptance of national cryptocurrency by all state enterprises.