Venezuelan Businesses Likely Turning to Crypto Amid Dollar Scarcity

TheNewsCryptoPublished on 2026-03-24Last updated on 2026-03-24

Abstract

Venezuelan businesses are increasingly likely to turn to cryptocurrency due to a severe scarcity of US dollars. Small and medium enterprises report having their dollar bids rejected without explanation, while large corporations in sectors like food, beverage, healthcare, and chemicals receive preferential access. With dollar availability down 13% compared to the same period in 2025, these smaller firms are forced to raise prices and explore alternative markets. Additionally, Venezuela is suspected of holding significant Bitcoin reserves, estimated at nearly $22 million, potentially to circumvent international sanctions. These reserves, if liquidated, could impact the global crypto market. Meanwhile, crypto prices remained stable over the past 24 hours, with BTC trading above $70,000 and projections suggesting a potential rise to around $75,661 in the next month.

There is a possibility for Venezuelan businesses to switch to the crypto segment. This is in the wake of the dollar scarcity. Firms in Venezuela are looking to raise prices before contemplating the next move. Meanwhile, crypto prices remained flatlined over the last 24 hours, with BTC and ETH maintaining their levels above the expected respective marks.

Crypto for Venezuelan Businesses?

Fewer dollars were reported to be available in early 2026 as compared to 2025. This forced small and medium businesses in Venezuela to first consider raising their prices and then moving to an alternate market due to economic threats over the industry.

Small and medium businesses have alleged that their bids of dollars have been rejected without any reason. Allocation to big businesses, on the other hand, has been happening seamlessly. Companies that are reportedly getting preferred access to dollars are large food, beverage, healthcare, and chemical companies.

Small and medium Venezuelan businesses have alleged that auctions have been limited and their reach has been limited to a few companies. Analysts have said that the availability of dollars from mid-January to early March was around $1.3 billion. This is 13% less than it was in 2025 during the same time.

Venezuela and BTC

Earlier reports underlined that Venezuela may be sitting on a BTC reserve worth millions of dollars. This is based on the region’s sanctioned exclusion from the global financial market. Experts anticipate that Venezuela may have turned to cryptocurrency, or bitcoin to be more specific, to make its way around sanctions.

There is no official worth on its reserves; however, Bitcoin Treasuries estimates that it could be worth almost $22 million. This level of holding, if & when liquidated, could have a larger impact on the global crypto market. Thereby impacting investors in a broader sense. Crypto wallets holding BTC are likely linked to generals and members of Maduro’s party.

Crypto Prices

Meanwhile, crypto prices across the segment have remained flat over the last 24 hours. BTC itself has maintained a stay above $70k. It is up by 2.34%, trading at $70,236.69, when the article is being drafted.

BTC projection estimates the flagship cryptocurrency to jump by 7.44% in the next month. This would take the token to around $75,661, amid a medium volatility of 3.63%. Overall sentiments remain bearish with an FGI of 8 points for extreme fear.

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