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

CARACAS — On September 30 my first son, Adrián, was born in Caracas, Venezuela. Thanks to my hard work and my savings in Bitcoin I managed to pay, in one day, all of the medical costs for the birth of my child. In the midst of the economic crisis roiling my country, Adrián was born in a decent private clinic in the Venezuelan capital.


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...

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