Venezuela adopt IOTA in huge numbers

Venezuela adopt IOTA in huge numbers

IOTA (MIOTA) has made huge strides both in terms of technical developments and partnerships for the last one year. Partnerships with world-renowned companies such as Volkswagen and Fujitsu have endeared IOTA to lots of crypto investors. However, going forward, the biggest source of value for the IOTA coin will come from investor demand, that is, people looking to hold IOTA (MIOTA) coin as an investment.

That’s why the in-roads that IOTA is making in Latin America are a good reason for IOTA investors to be excited.  It will push up knowledge levels about IOTA (MIOTA) in this region and drive up demand.  According to IOTA Hispano, IOTA will hold a series of meetups in Latin America starting with Venezuela on October 20th. Here is what Saul Ameliach, one of the people behind this event had to say about the idea of starting these meetups in Venezuela.

“Venezuela is one of the countries with greater acceptance of blockchain technology in Latin America and a vast cryptocurrencies knowledge, as well as great potential for development. “Therefore, IOTA Latino decided to start its cycle of meetups scheduled for Latin America and the Caribbean in Venezuela, and has chosen the city of Valencia as the appropriate place to start with this stage of events.”

The idea of pushing IOTA (MIOTA) into Venezuela is one that the investing community should be excited about. That’s because Venezuela has been in a financial crisis for quite some time now. Its level of inflation has at some point hit 1,000,000%. This explains why Venezuelans have been pushing more into crypto. Dash (Dash) has been one of the most adopted cryptos in Venezuela, since it has an active team pushing for adoption in this economically ruined nation. This has positively impacted on the value of Dash as its volumes have been rising consistently for the last couple of months. If IOTA, through this meetup and other awareness efforts can capture this market, it could see a significant boost in value as well.

The best thing about IOTA is that its attributes give it an edge over the other cryptos in Venezuela. That’s because it is free and instant. These are attributes that people in cash-strapped Venezuela will appreciate. If the people of Venezuela adopt IOTA in huge numbers, its volumes and demand in the market will rise. Demand for IOTA could also spill over into other Latin American nations that are facing currency issues. For instance, Argentina is also facing issues that have created uncertainties in its local currency. People would appreciate a feeless and instant mode of value transfer.

Overall, the move to proactively push IOTA (MIOTA) in Latin America could trigger a bull run in IOTA in the near future. That’s because, IOTA (MIOTA) is a high demand coin, due to its fast-rising rate of adoption. This means that a spike in volumes driven by Latin America demand could create FOMO around IOTA and easily push it back above $1. This could be an interesting end of the year for IOTA (MIOTA).

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