Is Venezuela’s Bitcoin Stash Really So Bullish for BTC?

Earlier today, news broke that the central bank of Venezula is in tests to see whether it would be advantageous for the institution to hold cryptocurrency reserves. The nation’s state-run oil company is also apparently attempting to send Bitcoin (BTC) and Ether (ETH) to pay suppliers via the central bank.
Naturally, many commentators have celebrated this as wildly bullish for Bitcoin and crypto more generally. However, not everyone is as convinced.
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