Skip to main content

Burger King, Petro, and Rising Bitcoin Volume: Venezuela Might Be The Leading Country In Terms Of Crypto Adoption


While most of the world countries and entities are making slight attempts to enlarge their cryptocurrency adoption, Venezuela might be way ahead.
Judging by the past year, the dictatorship country has been quite favorable towards Bitcoin and other digital assets, with increased trading volume, and its own cryptocurrency to be used in oil trades.
Most recently, the Burger King food chain will allow clients to make purchases with several different cryptos, including Bitcoin, thanks to a partnership with Cryptobuyer.

Pay your Whopper with Bitcoin
The popular cryptocurrency gateway, CryptoBuyer, recently announced on a new partnership with Burger King Venezuela. Effective immediately, customers can use some of the most popular cryptocurrencies, such as Bitcoin, Litecoin, Ethereum, Binance Coin, Dash, and Tether, to make purchases in one location in the capital Caracas.
Dash goes even further, announcing that there will be 40 Burger King locations throughout the whole country that will provide the same payment options.
“Burger King has been training its teams and stores during the past weeks and will slowly roll out Dash payments into all stores in Venezuela, with plans to also accept the other cryptocurrencies in Cryptobuyer’s portfolio.”, according to the announcement.
Cryptobuyer’s CEO, Jorge Farias, also appeared inspired by Venezuela’s growth in adopting cryptocurrencies as a primary method of payment, saying that “it’s ahead of the curve.”
Venezuela’s Petro To Have A Real Role
The political turmoil in the country, leading to a brutal inflation rate of thousands and even millions of percentages in a single month, could be the reason why Venezuela is slowly turning to digital assets.
Initially, it launched Petro to serve as its own cryptocurrency. It had a slow start, but as of recently, President Madura reassured the public that some of the most valuable assets the country has, like oil, iron, aluminum, and gold, will be sold in Petros.
“We are going to sell Venezuelan oil in Petros. We are already selling the iron and steel of Venezuela in Petros. We also have signed a contract for the sale of oil, steel, iron, aluminum, and we are going to sell part of the gold production in Petros, as well,” – informed President Maduro.

Rising Volumes Of Venezuela
Tech Tic Technologies reported recently that the country has recorded, again, a new all-time high regarding Bitcoin’s trading volume. The picture above also shows that it’s not a one-time thing, as the volume seems to be on the rise continuously.
It’s also worth noting that President Maduro previously said that the country would start accepting Bitcoin and Ethereum as official payment forms for national and international transactions through the central bank.

Comments

Post a Comment

Popular posts from this blog

Legendary Rock Star Gene Simmons Buys Cardano (ADA) Worth $300,000

Famous rock star Gene Simmons continues his cryptocurrency adventure, this time investing $300,000 in Cardano (ADA). Gene Simmons, the legendary KISS bassist, has made another dip into cryptocurrencies. The famous musician has expressed his belief in Cardano, presuming 2021 would be “the most productive year” for the altcoin. Believing in the Future of Cardano Rock star Gene Klein, aka Gene Simmons, has appeared in online social media with yet another pro-cryptocurrency commentary. This time KISS’s legendary bass guitarist has expressed his opinion on Cardano and its native digital coin ADA. In his  recent publication  on Twitter, Simmons explained one of his fundamental personal reasons for  investing  and holding the altcoin. The musician pointed out that he believes in Cardano because of Hoskinson (Charles) – Cardano’s creator and co-founder of Ethereum. In his tweet, the musician expressed his trust in the altcoin hopping on Hoskinson’s envision that 2021 would b...
Post a Comment
Read more

Bitcoin Hash Rate Hits All-Time High: Here’s How It Works And How It Affects The Price

Bitcoin intelligence, data, and analytics firm Glassnode found the Bitcoin hash rate hit a new all-time high over the weekend, ten days before the Bitcoin halving event. In other words, miners are putting more computational power into maintaining the Bitcoin network. Because miners must venture electricity and capital intensive computer processors to mine Bitcoin, the increase in hash rate is a bullish sign. It means miners are after the Bitcoin rewards they get from maintaining the network. And they’re venturing the resources to go after those rewards. Is The Bitcoin Hash Rate Correlated With The Price? In general, the Bitcoin price and the hash rate are not correlated. The price is what buyers and sellers agree to pay for one Bitcoin, and there are many factors – external and internal – affecting the price. However, there is a relation between the two. While the price goes up, it’s more profitable to mine, which likely to cause more miners to turn on their mining equ...
Post a Comment
Read more

Tether Continues Printing Spree: Mints 480 Million USDT In First Week Of May

Tether is not slowing down in its USDT printing spree. The amount of tokens the stablecoin issuer has minted within the last week now equals what it printed in the first half of April. Tether Prints 480 Million USDT In 5 Days Records from Whale Alert suggest that the Tether Treasury has printed five batches of fresh tokens in the last five days, totaling 480 million USDT ($480.4 million), which was the same amount with what was minted within the first 14 days of the previous month. In a previous report , Tether created a whopping 1.58 billion USDT (appr. $1.586 billion) in April alone, making it one of the busiest months for the company’s Treasury in terms of minting new tokens. The company printed 220 million USDT ($220.4 million) on Thursday alone, and 100 million USDT ($99.8 million) more today. If the stablecoin’s printer continues producing more tokens at this rate, then we will likely see almost twice as much as the figure in April. At the time of writing, the USD...
Post a Comment
Read more