An incredible story from @cryptonomista @CdnBitcoinConf , founder of @hodlwithLedn , where his family had to flee from Venezuela and was able to bring their wealth with them in the form of #bitcoin.
They would have been screwed otherwise.
Wow.
cc:
@CdnBitcoinConf
https://twitter.com/onair_blair/status/1670133841678200833?s=20
With the government in collapse and the hyperinflation of the Bolivar, they would not have been able to get anything close in value to what they held in savings – in cash or in banks.
With Bitcoin they had a chance to retain the purchasing power of their money until they were settled in Canada and were able to convert the Bitcoin into a more stable local currency.
Unfortunately this is the reality for many Venezuelans living in exile, and it speaks of the importance of having access to a form of digital money that is not controlled or managed by any local government.
Having Bitcoin in their possession meant they could have more stability and control over their own destiny. Hopefully others in similar situations will find the same freedom.
For these extreme situations, look up Border Wallets.
https://www.youtube.com/watch?v=wHQrvCGVkTw&ab_channel=BTCSessions
