Venezuela’s Bitcoin Birth Proves Crypto Beats Gold in Hyperinflated Economy

Bitcoin/crypto beat all.

Venezuela’s Bitcoin Birth Proves Crypto Beats Gold in Hyperinflated Economy

A Venezuelan man has used the bulk of his bitcoin savings to pay the medical costs of his son’s birth. Many consider adequate healthcare a universal human right but only few in the inflation-ridden country can actually afford it.

José Rafael Peña, a materials engineer from Caracas, outlined the payment process which took a day to clear and gave his son the best possible start at a new life. It also bolstered the case of bitcoin as a superior medium of exchange than gold:

“But telling this story has made me realize how important Bitcoin has been in my own life. It has allowed me to fight Venezuela’s hyperinflation, to amass some savings, and to pay large sums of money in a matter of hours, without having to actually travel anywhere. Imagine what it would take to sell that quantity in gold, for example.”

https://www.ccn.com/bitcoin-superior-medium-exchange-than-gold-venezuela/

Master Asked on October 25, 2019 in Bitcoin.
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