The demand for bitcoins in Venezuela registered through the site LocalBitcoins registered the week concluded on June 17 an unprecedented point in which transactions were recorded over one million dollars.

The registered level surpasses the mark of 9.430,92 million bolívares, that represents approximately 1.1 million dollars according to the parity of the unofficial market at the moment. However, it is not the largest demand point in bitcoins in the local market. The biggest demand for bitcoins in the country was recorded on April 8, with 736 units.

In the peak of demand in dollars registered last week, however, the acquisition of 462 bitcoins was registered, slightly above the 447 bitcoins traded in the week of June 10, but below the 484 that were traded in the country by means of this platform earlier this month, according to coin.dance statistics. However, due to the revaluation of the bitcoin price and the devaluation of the bolívar against the dollar, this is the first time that the exchange of the cryptocoin exceeds one million dollars.

In bolivars, there was a jump of approximately BsF. 1.5 billion by recording the figure for the week of June 17, with a jump from the 7,975.43 million bolívares transacted the previous week, according to LocalBitcoins registered on June 10 of the currents.

In addition to the natural process of adoption that has gradually increased, marking historical highs in different Latin American countries, in Venezuela the operation of bitcoins is an alternative to the strong exchange control that regulates foreign currency operations, in force for more than 14 years. In the same way, it constitutes a way for the acquisition of goods and services abroad with support in the blockchain.

Likewise, the country has a community increasingly involved in the adoption of cryptocoins and the promotion of its use through its own projects developed in Venezuela in order to facilitate the expansion of credit in the segments of the population that Are not fully integrated into the financial sphere, to mention one example.

In other countries in the region, there are also growing cases of adoption in commercial networks and movements by interest groups to promote formal legislative processes that provide a legal framework for operations in electronic currencies - as is the case of Mexico and Brazil -; Steps that still have to be formalized in the Venezuelan case, but which must eventually occur.

It should also be noted that the growing interest in blockchain technology and its applications has allowed for the realization of specialized events in the country that have put Venezuela on the map in terms of ecosystem development and which will continue to be carried out with increasing frequency and impact.