Venezuela, cryptocurrencies to preserve savings

Forbes, in an article by Yoav Vilner, describes the dramatic economic situation in Venezuela that could encourage the cryptocurrency circulation. The hyperinflation has surpassed 2 million percent and the Venezuelan Bolivar has now become an useless currency. The Venezuelan fintech potentials are supported by the very low costs of electricity, which favor mining operations.
“We have forged several partnerships with Venezuelan nationals, to aid in capital flight and wealth preservation for victims of this regime” Says Galiano Tiramani, CEO of U.S Based Tirex Trading, “Lately, we have seen dramatically increased interest from those using bitcoin not only to store value, but as a means to move it out of the country.”