Venezuela has recorded all time high Bitcoin trading volumes on P2P trading platform , LocalBitcoins.com where 1000 BTC is traded each week.

The country that recently launched its oil-backed national cryptocurrency, Petro, has been grappling with high inflation leading its citizens to turn to Bitcoin for everyday transactions.

Venezuela has faced resistance from the US who were against the country’s plan to launch a cryptocurrency and even imposed sanctions on the country’s trade

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