Venezuela faces inflation rates exceeding 200%, with the local currency continuously depreciating and wages shrinking significantly upon receipt. In such an economic predicament, more and more people are turning to Bitcoin and USD stablecoins — both to receive overseas remittances and bypass foreign exchange controls, as well as to effectively protect their purchasing power.

The government has also attempted various measures: from involving the military in digital currency mining to launching the Oil-backed coin in hopes of breaking through US financial sanctions, but the actual results have been quite limited. This reflects a larger reality — that the US dollar, through the expansion of the stablecoin ecosystem, is continuously extending its influence in the digital financial sector.

For many countries with insufficient foreign exchange reserves and vulnerability to sanctions, ordinary citizens abandoning their local currency in favor of USD stablecoins or Bitcoin has become a necessary but forced form of self-defense. In these regions, cryptocurrencies have long surpassed their role as investment assets and have evolved into survival tools for fighting inflation and evading sanctions. This phenomenon also highlights the unique role of digital assets in the global economic landscape.