Venezuelan economist: Cryptocurrency is “good money”, Bolivars are not

posted 2 months ago
Venezuelan economist, professor Aaron Olmos, spoke to the challenges of the present economic situation: “We are in a complicated situation because ‘good money’ – dollars or cryptocurrency – is available, but it is scarce because people tend to keep it, not spend it. On the other hand our ‘bad money,’ the Bolivar, is the one used by law.”

Yet, in the midst of the crisis, Olmos said cryptocurrency could help form a solution, in part, because adoption “is already happening… Given the conditions were in, we need an alternative element of trust, there’s nothing better than a cryptocurrency while an economic policy takes care of making the Bolivar regain value and recover its power.”
Tags: blockchain, bitcoin, news