On January 15, the president of Venezuela, Nicolás Maduro, in his memory and account of the year 2021 to the Venezuelan nation, in reference to the economic and monetary issue, spoke of a coexistence of multiple currencies in the economy of the South American nation.
The economic issue that was one of the fundamentals during the memory and account of the year 2021, has left some points to highlight and one of those was the currency.
Although from Cointelegraph en Español we have pointed out that the increase in operations and transactions with currencies or cryptocurrencies, both in cash and electronic payment channels, increased drastically in 2021, the president of the South American nation referred to this event of coexistence of multiple currencies, including cryptocurrencies and the dollar, such as: “the economy of the new era, the economy of the future, the coexistence of currencies.”
“We have been achieving mechanisms that allow the defense of the Bolívar, its future recovery, and coexistence with the dollar, other currencies and cryptocurrencies that work in the national economy,” said the President in the National Assembly in front of deputies of the Nation, state governors, diplomatic corps and special guests.
Maduro, who also pointed out that in the past year they had created the conditions for the launch of the Digital Bolívar, and the monetary restatement by the Central Bank of Venezuela by removing six zeros from the Bolívar, also commented that Venezuela has not renounced nor will it ever renounce its currency, the Bolívar.
“What we want is its recovery based on the generation of real wealth. And we are achieving it step by step; this in the framework of an economic war,” he said.
Venezuela, in at least the last four years, has presented an exchange flexibility, a scenario contrary to what was experienced a few years ago, and these measures, together with the adoption of electronic payment mechanisms such as Binance Pay, or Reserve, have allowed citizens to find a way to protect themselves to some degree from monetary inflation.