The government of Bolivia is about to rug everyone holding USD in their bank accounts and will replace the dollars with a commensurate amount in local currency, Bolivianos - which are redeemable back to USD for 50% less. But #Bitcoin has no use case. image

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HoloKat's avatar
HoloKat 10 months ago
ChatGPT translation: ⸻ NOTICE Banco Unión S.A. informs its national client portfolio that, in compliance with Supreme Decree No. 5348 of March 10, 2025, the General Management of this financial institution has decided that all funds deposited in U.S. dollar savings accounts will be withheld and returned to their holders in the national currency, Bolivianos, at the official exchange rate. The public is advised to remain calm when visiting Banco Unión S.A. branches, as this measure will remain in effect while the shortage of foreign currency persists in our country and as long as the aforementioned Supreme Decree remains in force. We reaffirm our commitment to working alongside President Luis Arce’s government to address the challenges facing the Bolivian population. March 2025. Banco Unión S.A. “The Bank of Bolivians” (This institution is supervised by ASFI.)
Good lord it's shitcoin inception.
Mike's avatar Mike
The government of Bolivia is about to rug everyone holding USD in their bank accounts and will replace the dollars with a commensurate amount in local currency, Bolivianos - which are redeemable back to USD for 50% less. But #Bitcoin has no use case. image
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Sigh… been trying to get my in laws to learn about bitcoin for years! My wife’s entire family is still there, but even she has not really put time in to study. At least our twins do sometimes
Corralito boliviano
Mike's avatar Mike
The government of Bolivia is about to rug everyone holding USD in their bank accounts and will replace the dollars with a commensurate amount in local currency, Bolivianos - which are redeemable back to USD for 50% less. But #Bitcoin has no use case. image
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Sucks for the Bolivian people, but it isn't surprising. When I visited, their book stores were full of commie literature.
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npub17qsw...85py 10 months ago
"The public is advised to remain calm when visiting Banco Unión S.A" translation: Remian calm as we take your stuff.
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npub10a93...yj2c 10 months ago
Mhhh just sharing....
Mike's avatar Mike
The government of Bolivia is about to rug everyone holding USD in their bank accounts and will replace the dollars with a commensurate amount in local currency, Bolivianos - which are redeemable back to USD for 50% less. But #Bitcoin has no use case. image
View quoted note →