In Bolivia, as of June 28, 2025, cryptocurrency transactions have surged dramatically. The central bank reported a 630% increase over the past year, driven by the government's decision to lift a ban on digital assets.
This growth is fueled by a severe economic crisis, including 40-year high inflation and depleted dollar reserves. Many Bolivians are turning to Bitcoin and stablecoins as alternatives. Businesses in cities like Cochabamba now accept crypto, and crypto ATMs are becoming common.
In June 2024, the central bank lifted its ban, allowing financial entities to conduct crypto transactions. The government also launched an educational campaign to increase public awareness. However, experts warn about volatility risks and the government has banned crypto payments for energy transactions to stabilize the boliviano.