NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Venezuela Hikes Minimum Wage Again Which is Good News For Bitcoin

newsbtc
newsbtc
1 year ago
2 mins read
Venezuela Minimum Wage

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Hyperinflation has been plaguing the Venezuelan economy for quite some time now. It is also one of the reasons why the government decided to mint new coins and banknotes. The next step in the long recovery process is hiking the minimum wage by 50%. An intriguing decision that can affect Bitcoin adoption in the country.

President Nicolas Maduro shocked the world by hiking Venezuela’s minimum wage all of a sudden. It is not the first time this happens, although the latest 50% increase seems rather steep. In fact, it is the fifth time the minimum wage in the country is hiked over the past twelve months.

Venezuela Hikes Minimum Wage Again

Although a lot of people think of this change as a positive sign, it really isn’t. A 50% minimum wage hike does not match the growing hyperinflation plaguing Venezuela. Food remains too expensive for most people, and this latest hike will not solve that problem. Inflation in the country will surge to over 1,600% in 2017, and 2,880% in 2018.

For the Venezuelan government, extreme measures remain necessary. Unfortunately, this means sacrifices have to be made. Food and medicine are increasingly costly to come by, and things will not improve anytime soon. Exchanging the old currency for new coins and banknotes has been troublesome as well. Up until this point, there is a large shortage of new cash, similar to what happened in India.

Less than three months ago, Venezuela hiked the minimum wage by 40%. Every time a new hike arrives, the percentage only seems to grow higher. But with hyperinflation growing at an even quicker pace, these measures are insufficient. The current minimum wage in Venezuela is still just US$12.84. With food stamps added on top, the minimum wage is US$31.17 per month. Those numbers are horrendous and highlight the underlying financial problems all too well.

At the same time, the minimum wage hike can spell positive news for Bitcoin adoption. With a little bit more money to go around, more people have access to buying small amounts of BTC. Although it remains to be seen if this hike will affect national Bitcoin adoption, it shows how cryptocurrency is the only viable alternative in Venezuela.

Header image courtesy of Shutterstock

Tweet123Share196ShareSend
newsbtc
newsbtc

newsbtc

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

bitunix platforma s tradingview

Bitunix zavádí nástroje TradingView do své mobilní aplikace, co vše nabídne?

Burza Bitunix, která se rychle vyprofilovala jako inovátor v oblasti krypto derivátů, podnikla další strategický krok směrem k modernizaci uživatelského...

Lenka Hanzlíková 4 hours ago

Bitcoin resiste alla forte pressione di vendita su Binance Derivatives – breakout in arrivo?

Bitcoin (BTC) è rimasto bloccato in un range tra 100.000$ e 110.000$ dal 7 maggio, con alcune brevi discese fino...

clararosati 5 hours ago
Ethereum Price Action Signals Momentum Shift: BTC Sleeps And ETH Moves

Ethereum Price Action Signals Momentum Shift: BTC Sleeps And ETH Moves

Ethereum has finally pushed above the critical $2,600 level after weeks of range-bound trading, marking a potential turning point in...

Sebastian Villafuerte 5 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Dogecoin

Is Dogecoin Prepping For Takeoff? Fib Reaction And Trend Support Say Yes

Godspower Owie 1 hour ago
Bitcoin Hyper $HYPER presale meme coin

Bitcoin Hyper je dosegel mejnik 2 milijona dolarjev

tanjapotocnik 3 hours ago
Elon Musk

Elon Musk Drops Epstein ‘Peanut’ Bomb — PNUT Coin Explodes 10%

Christian Encila 3 hours ago

Premium Sponsors

Press Releases

  • 仮想通貨プレセール|次世代ビットコイン拡張プロジェクトが200万ドル目前、投資家が続々と参加中

    ...

    4 hours ago
  • 仮想通貨おすすめ|ビットコインが過去最高値に迫る中、ETFが70万トークンを保有

    ...

    4 hours ago
  • 新しい仮想通貨が160万ドルを調達──過剰な宣伝を避ける注目のミーム系ボット登場

    ...

    4 hours ago
  • 仮想通貨おすすめ|ビットコインが10万8,000ドル突破、2025年7月に注目の17銘柄

    ...

    4 hours ago
  • MEXC Launchpad Debuts PUMP Token with Exclusive 40%...

    4 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.