Inflation

Venezuela has an unstable economy and its currency has been hit by inflation beyond 1000%. Destinia, a Venezuelan online travel agency, will now only accept Bitcoin for payment for its services citing “increasing restrictions” and economic woes in the country.

Bitcoin price last week remained mostly stable, as small fluctuations up and down did not change the situation. Macroeconomic news, which gave a favorable backdrop for risky assets also did not affect the movement of Bitcoin price.