After the Bolivar (Venezuelan "currency") lost 25% of its value last week, 33 BTC were traded here (only LocalBitcoin stats) and now monthly minimum wage is around 16 USD!

Hi guys, as you probably know I'm Venezuelan "living" here, been posting these updates since 2018.

Last weeks exchange rate increased from less than 6 Bs. per USD to almost 8 Bs. per USD.

Monthly minimum wage has been a wild ride, from 1 USD monthly to 30 USD and now around 16 USD.

Average wage is around 100 USD monthly.

For weeks now the average BTC trade is around 30-35 BTC, remember this is only measured using LocalBitcoin not because I want, they are the only ones that make stat public. Binance, Airtm and Reserve are also used here. Years ago the value reached 2,000 BTC.

One BTC is around 160,000 Bs. (Bolivares) right now! Almost a year ago government removed by law 6 zeroes, so it would have been 160,000,000,000 "old" Bs.

People use crypto to escape Bolivares, also some people receive remittances from abroad like that, and miners to exchange they payments (as electricity is technically free).

Some sources,

https://www.caracaschronicles.com/2022/04/21/is-venezuela-doing-better/

https://www.caracaschronicles.com/2022/04/20/the-bizarre-figures-of-venezuelas-economic-recovery/

https://coin.dance/volume/localbitcoins/VED/BTC

https://coin.dance/volume/localbitcoins/VED

https://www.caracaschronicles.com/2020/10/23/you-need-285-minimum-wages-in-venezuela-to-feed-your-family/

https://localbitcoins.com/country/VE

https://www.bloomberg.com/features/2016-venezuela-cafe-con-leche-index/