100,000 Cubans Are Using Bitcoin In Response To U.S. Sanctions

Bitcoin Magazine

  • A report from NBC states over 100,000 Cubans are using bitcoin and other cryptocurrencies.
  • The adoption of cryptocurrencies was driven largely by mobile internet access which was only provided to Cubans three years ago.
  • The need for sovereign monetary technology spawns from sanctions placed against Cuba preventing the use of international standards of money.

Cuba is embracing bitcoin and other cryptocurrencies in response to burdensome U.S. sanctions, according to a report from NBC News.

There are reportedly 100,000 Cubans currently using cryptocurrencies which is largely thanks to the introduction of mobile internet access that was only provided three years ago. One particular cafe owner named Nelson Rodriguez was interviewed by NBC due to his acceptance of bitcoin and other cryptocurrencies.

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