When it comes to the adoption of Bitcoin (BTC), there is no other country that is more eager to do it than Venezuela. Although El Salvador has had Bitcoin as a legal tender since early September of 2021, yet Venezuela has been into Bitcoin for several years.
Although the country is filthy rich in terms of oil reserves, yet the sanctions imposed by the United States back in 2014 have pushed the country in a corner.
The major reason behind facing so many sanctions is the political influence of Nicolas Maduro who doesn’t see eye-to-eye with the US administration. As the United States imposed sanctions on Venezuela, the allies of the United States soon followed and Venezuela is still facing the impact of such sanctions.
Although the US administration had thought that Venezuela would soon give up and come on common terms, Venezuela seems to be taking a different approach. Despite facing heavy inflation, the political, as well as the military decision of Venezuela, is to fight sanctions in its own fashion.
The political and military leadership in the country is adamant about fighting off the economic downfall with the help of cryptocurrencies. This is when Bitcoin has emerged as a savior for the country and the leadership in Venezuela is not shying away from its adoption.
Venezuela is now among a handful of countries that are adopting Bitcoin wherever they can. In the past 12 months, Venezuela has found itself in the headlines due to its exposure to Bitcoin. The country has reportedly paid international companies for their services in the country through Bitcoin.
Apart from that, the government as well as the military power in Venezuela has adopted Bitcoin. They have even run operations for mining Bitcoin and they seem to be doing really good so far.
The exposure of Bitcoin has even found itself to the Simon Bolivar International Airport. Reports have emerged surrounding the Venezuelan international airport adopting Bitcoin. It has been revealed that soon, the people and visitors in Venezuela will be able to pay in Bitcoin and cryptocurrencies at the airport.
The passengers will not only be able to do shopping from the airport duty-free shops paying in Bitcoin. They would also be able to buy flight tickets with the help of cryptocurrencies and Bitcoin.
As of now, accepting payments in Bitcoin has become a common standard in Venezuela. Therefore, the Venezuelan international airport is getting on board to meet the same standards.
The Simon Bolivar International Airport is also commonly known as Maiquetia all over Venezuela. It is located in the capital of Venezuela, Caracas.