A store exchanges various currencies and cryptocurrencies in the city center of La Paz.
Photographer: Manuel Seoane/BloombergIn Land of 25% Inflation, Crypto Is Starting to Replace Money
Bolivia is a major test case for a belief held by many crypto diehards: digital assets aren’t merely for speculation, they’re a better way to do commerce.
In Bolivia these days, just about anything seems better than holding the local currency. The buying power of the boliviano has cratered, as trust in the once-dominant socialist government nears all-time lows, inflation hits three-decade highs and dollars are in short supply.