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In land of 25% inflation, crypto is starting to be used as money
By Maria Clara Cobo and Sergio Mendoza
Bloomberg News
Thursday, August 7, 2025
In Bolivia these days, just about anything seems better than holding the local currency. The buying power of the boliviano has cratered, as trust in the once-dominant socialist government nears all-time lows, inflation hits three-decade highs and dollars are in short supply.
That's why more and more people are turning to a risky alternative to do business and protect their hard-earned savings: cryptocurrencies.
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From small coffee shops to large corporations, signs of rapid adoption are everywhere in this landlocked nation of 11 million in South America.
At the El Alto International Airport, a vendor lists prices of candy and sunglasses in USDT, a stablecoin issued by Tether and fixed at 1-for-1 to the dollar. A top university pays its international faculty in Bitcoin. For a while even the state-owned oil company was authorized to use stablecoins for foreign payments.
All told, digital payments have skyrocketed more than fivefold to nearly $300 million in the first six months of 2025, after a decade-long ban was lifted a little more than a year ago. ...
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