In Venezuela, I Used Bitcoin to Pay for the Birth of My Son

Living in Venezuela has pushed me to find ways to protect myself. One option is Bitcoin, which I wrote about previously. For the past two years I have received my entire salary in Bitcoin. I am fully aware of Bitcoin’s volatility but it still feels much safer than the hyperinflated Venezuelan Bolivar (VES). To give you an idea, in January of 2019 a café con leche cost 450 VES. By September, that same coffee was 14,000 VES, according to this Bloomberg index.

From the moment I knew I was going to be a dad, I started thinking about was how much it would cost to get decent treatment for my wife and baby. A few years ago a private clinic would cost somewhere between USD $500 and $700. In the private clinic that we ended up using, you couldn’t give birth for under USD $1500, and a Cesarean cost $2500.

It’s worth noting that this private clinic is among the least expensive. I’ve heard of clinics in Caracas where it costs up to USD $6000 for a Cesarean. The minimum wage in Venezuela is currently 300,000 VES, or around USD $16 a month. Read more...

#venezuela #BTC

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