Cryptocurrencies, and especially Bitcoin, are being adopted on a very wide scale in Venezuela, as a mean to combat hyperinflation.

According to CoinTelegraph.com, starting June 1st, over 20,000 new shops and enterprises will start accepting crypto payments.

We remind you that Venezuela’s hyperinflation rate hit 10 million percent at some point last year, which makes cryptocurrencies the perfect solution to their struggling economy.