Leonardo Buniak, economist and risk assessor, stated that the cryptocurrency market is an inalienable option to save, particularly in Venezuela, which is among the first countries with the most mining in the world. He said cryptoactives are the future.

Buniak participated in the conference “Venezuela 2022: Opportunities and threats in an unequal economic recovery”, where he stated that once the country recovers the investment will be very expensive, for which he urges all those interested in investing to do so in these moments.

According to the risk qualifier, the worst recommendation that can be made is “that they save in bolivars; whoever saves in bolivars loses these currencies and the dollars”. Therefore, cryptocurrencies are a very important option to value.

“Cryptocurrencies are an inalienable option, because the crypto asset is the future. That does not mean that I am going to save on things that are not cryptocurrencies, like the petro” he stated.

Venezuelan GDP

The economist also referred to the recovery of Venezuela’s Gross Domestic Product (GDP) in the coming years as a result of oil revenues. In his opinion, the income from the sale of crude oil will probably “multiply by three”, compared to 2020, as a consequence of the increase in prices of Venezuelan crude due to the war between Russia and Ukraine.

“We have lost almost 80 % of GDP. Today it is an economy of 14,000 million dollars, a dwarf economy that is going to start growing in 2022, in 2023, in 2024 and possibly in 2025,” he stressed.

On the other hand, the economist highlighted that it is estimated that Venezuela may be receiving between 19,000 and 20,000 million dollars as remittances in the next 3 or 4 years.

M. Rodríguez

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Source: bancaynegocios.com

La entrada Cryptocurrencies as a saving option apareció primero en Bitfinance.

Of the 195 countries in the world, Venezuela is ranked 49th on the list of nations with the greatest bitcoin computing capacity, as stated by the economist and bank risk rater, Leonardo Buniak.

Buniak reported that in financial matters of the 900 daily bitcoins that are produced in the world only 3 % and 4 % are generated by Venezuela, that “is a figure close to 2 million dollars” daily.

The specialist pointed out that in Venezuela there is “an interesting market share” for bitcoin, also stating that the demand is evidenced in the consumption of products in still lifes, where consumers can often trade with cryptocurrencies. Added to this is the alleged low cost of electrical energy, which makes it easier, – despite continuous outages – to keep a computer mining 24 hours a day.

This economy generates bitcoins because electricity is extremely “cheap,” as Buniak asserted.

According to this, the nations with the highest demand in cryptocurrency mining on a global scale are: Canada, Iceland, Georgia, China and Russia.

K. Villarroel

Source: bancaynegocios

La entrada Venezuela ranks 49th in capacity to mine bitcoin apareció primero en Bitfinance.