The government took that action because it has no more options, the Central Bank of Venezuela has no liquidity, the lack of cash is an acute problem, the Bs.S is handled and the government's policies are prohibited from the US dollar, without However, in the Capital of the Country they manage dollars, what they do is print inorganic money increasing inflation every day. Recently the government increased 750% of the basic salary, which, instead of fixing the economic situation worsens it, because much more speculation is generated.
The few people who know Bitcoin what they are doing at the moment are buying everything that can be done in Bitcoin, because they know very well that the value of their currency is very low, and on platforms such as localbitcoins.com the volumes are increasingly big.
Check:
Global Volume:
Source:
coin.danceAnd Volume in Bs.S:
Source:
coin.danceWhere:
Source:
themoneyconverter.comAnd Volume BTC:
Source:
coin.danceTaking into account these data, adoption has not yet been total, it represents only the part of the population that knows Bitcoin and the Crypto market, but the crisis has revealed today how to take refuge in this technology.
Already in Venezuela 3 ATMs have been set up:
1.- In San Antonio del Táchira (Táchira State)
2.- In Mérida (Mérida State)
3.-In Caracas (Capital)
Given these adoption rates, the government took the measure of accepting payments in Bitcoin and ETH cryptocurrencies to integrate it as possible reserves, it is a desperate measure to obtain money from the US blockade to pressure rulers to leave power and let the country arise.
This whole crisis brings to the Bitcoin market a growing demand that gradually eliminates the supply and the price of Bitcoin in the long term will be higher.