Bolivians are increasingly turning to digital assets as a financial lifeline amid rampant inflation, a scarcity of US dollars, and a devaluing national currency.
A recent central bank report indicates a significant surge in cryptocurrency adoption nationwide, particularly in cities like Cochabamba.
Here, Bitcoin ATMs are becoming more common, businesses are embracing crypto payments, and discounts are often offered for transactions made with digital assets, as reported by Cryptopolitan.
With the Bolivian government artificially maintaining the official exchange rate while the black market rate plummets, citizens are using platforms such as Binance to acquire Bitcoin and stablecoins like Tether (USDT).
This strategy helps them safeguard their finances against the weakening Bolivian boliviano.
The central bank’s latest figures reveal an astounding 530% increase in crypto transactions, climbing from $46 million in the first half of 2024 to $294 million in the same period of 2025.
Since the ban on digital asset transactions was lifted in June 2024, the total value of crypto transactions has exceeded $430 million.
The rise of electronic payment channels and virtual asset instruments has provided micro-businesses and families with access to foreign currencies, facilitating remittances, small purchases, and daily payments.
However, financial experts, including former central bank head Jose Gabriel Espinoza, warned that this surge in crypto usage reflects underlying economic instability rather than robust financial health.
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