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Bolivia: USDT skyrockets in the parallel market, is there a crisis of confidence in the boliviano?
This week Bolivia once again became a focus of crypto attention. USDT is trading at Bs 12.43 (buy out) and Bs 12.35 (sell) in the parallel market—a significant premium that reflects something deeper than simple speculation.
What is really happening?
It's not just demand. Bolivia is facing a toxic cocktail: political uncertainty + depreciation of the boliviano + currency restrictions. People are seeking refuge, and stablecoins are the most accessible door. But here's where it gets interesting: the government just announced buy out of fuel with cryptocurrencies, which paradoxically increased the pressure on USDT.
The crux of the problem
Limited offer (banking restrictions) + explosive demand (de facto dollarization) = brutal imbalance. The premium of USDT against the official exchange rate is the gap between economic reality and official fiction.
And now what?
The authorities are silent. If they don't regulate soon, we will see more distortions in the foreign exchange market. If they regulate restrictively, more people will move to crypto. It's a classic dilemma of capital controls vs. financial freedom.
Key point: When a country is in crisis, stablecoins are not a trend—they are a necessity. Bolivia is the symptom, not the exception.