Venezuelan aviation academy Caracas Air announced that they will now accept Bitcoin as a payment method, according to CEO Oliver Laufer’s tweet:
“We are accepting Bitcoin from today and we will provide discounts and financing plans to anyone who chooses this new payment method”
The company became one of the latest companies in Venezuela to adopt cryptocurrency. This move came after inflation soared and the country’s lack of trust in its local currency (Venezuelan Bolivar) took over the country.
Founded in 2015, Caracas Air operates as one of the fastest growing aviation academies in South America. The company currently has around 900 students.
The move to accept Bitcoin as a form of payment will probably not be the last of such moves by a large corporation. Because hyperinflation in Venezuela is causing citizens to search for alternative payment methods and value stores.
Alternative to Venezuelan Bolivar
As citizens moved away from the devalued Venezuelan Bolivar, the country became extremely active in Bitcoin trading. Peer-to-peer BTC trading has seen a steady increase in the country, with its ever-growing volume.
Bitcoin trading volume continues to grow in Venezuela, as the country has not managed to get rid of the economic troubles it is in.