Bitcoin demand in Cuba rises as economy struggles

Bitcoin demand in Cuba is rising as traditional currencies are increasingly showing signs of instability. The communist regime is facing huge pressure from all quarters of a society struggling with price rise, inflation, protests, and destabilizing economic factors. Consequently, dollars and euros are being preferred more. Interestingly, Bitcoin demand in Cuba has also risen due to these factors. The recent efforts to put an end to the dual currency mechanism of the nation have also sparked protests. Cuba currently uses Peso and CUC (the dollar-pegged Convertible Peso). The latter is being phased out, prompting the demand for Bitcoin. Cubans are