In Cochabamba, Bolivia, as of today, residents are increasingly using cryptocurrencies like Bitcoin and stablecoins such as Tether. This is a direct response to the country's severe economic challenges. (Source: Reuters, April 7, 2025)
Inflation has reached 40-year highs, and the boliviano has lost half its value on the black market this year. The government recognized the role of cryptocurrencies in May 2025, but the use remains cautious. (Source: Reuters, April 7, 2025)
In March 2025, the state energy firm YPFB was authorized to use cryptocurrency for fuel payments, but this initiative was later banned. Farmers in the Santa Cruz region faced challenges in harvesting crops due to a lack of diesel. (Source: Reuters, March 13, 2025)
Bolivia is approaching its general elections on August 17, 2025, with the economic crisis expected to be a central issue. President Luis Arce withdrew from the presidential race in May 2025. The elections are anticipated to be highly unpredictable. (Source: AP News, May 2025)