As the situation in Venezuela deteriorates, Bitcoin is severely restricted

     The economic situation in Venezuela is not optimistic. It is said that food in the country is already difficult to purchase, and many people's minimum wage is lower than the national minimum wage standard, and they are all in poverty. Recently, according to individual media reports, the Venezuelan government has taken a stricter stance on foreign currencies, including Bitcoin.

     The Venezuelan government does not release information about the country's economic situation, but a government research report was leaked. The report said that due to the huge scarcity, food prices in Venezuela are rising rapidly, and the cost of basic food for households has increased by 19% year-on-year compared to last month. The government has set up a system where citizens can only purchase goods once a week based on their assigned ID numbers.

     A Venezuelan netizen wrote on Reddit : "Things are getting worse and worse. People have to get up very early every day to line up in stores. Usually at 4 a.m., there is already a long line in front of the store. People need to wait for several hours until the store opens. Sometimes it takes 8 hours to buy a bag of milk, two bottles of cooking oil and some flour. People used to buy food once a month or two months. Now everyone has to seize every opportunity to buy to rush to the store to buy."

     On the other hand, the Venezuelan government has been cracking down on the use of foreign currencies, including Bitcoin. Many Bitcoin websites in the country have been blocked. It is certain that many people in the country still do not know about Bitcoin. Like many countries in the southern hemisphere, the gap between the rich and the poor is widening in many regions, and Bitcoin is struggling to develop. Someone told me: "Many people are afraid of Bitcoin. There are many reasons for this, one of which is that the government is against people using anything related to foreign currency."