On Monday, the National Assembly said that inflation in Venezuela is now running at nearly 24,600% per year... [and] bitcoin trading volume in Venezuela has exploded, up 211% this year alone.


Venezuela could emerge as the first country where a cryptocurrency effectively replaces a government-controlled paper currency. And that would encourage other people around the world to also seek shelter in bitcoin.

... [but] Venezuela isn't the only country with major money problems.Just look at Argentina. Last year, its official inflation rate hit 25%. The year before, it was 37%. This means that everyday goods and services in the country are 71% more expensive than they were at the start of 2016.

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