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In Venezuela's Economic Crisis, Bitcoin Is a Lifeline | Opinion

May 17, 2019 - Newsweek

Born in 2008 in response to the global banking and credit crisis, bitcoin has found its "patient zero" a decade later in Venezuela. Faced with hyperinflation, a worthless local currency and a risky black market for dollars, Venezuelans are increasingly turning to bitcoin as a tool for survival in the world's worst-performing economy.

In most countries, bitcoin and other cryptocurrencies still struggle for visibility and operate mainly within niche online circles of tech- or finance-savvy s...