Bitcoin outshines banks in Bolivia

In Bolivia’s city of Cochabamba, a new trend is taking root, cryptocurrency adoption. This comes as the country faces growing economic distress. Central bank reserves have dwindled to some of their lowest levels in over a decade. Inflation has crossed 8 percent, and the boliviano continues to weaken against the dollar. In this climate of financial uncertainty, crypto is emerging as an alternative store of value and means of transaction.