the Communist Party is riding the bitcoin wave

This congress debated “strategic issues for the progress of the nation” and other issues such as: “the economic management model, investment policy, innovation, science and technology and social policy” .

Cuba and its relationship with cryptocurrencies

Although Cuba does not have a state policy regarding cryptoassets so far, Cubans’ interest in Bitcoin continues to grow.

There are Facebook and Telegram groups with a few thousand users who are primarily dedicated to P2P commerce (peer-to-peer commerce).

On the other hand, tools such as Google Trends provide data that shows how much research interest in “Bitcoin” is setting records on the island.

In Cuba, there are at least two exchanges that allow the buying and selling of Bitcoin, as well as a company specializing in receiving cryptocurrency sent from abroad to Cuban citizens.

Cuba and the blockade

Due to the blockade imposed on the island since 1962, the CCP is constantly looking for alternatives to resist this economic blockade.

Already in 2014, an article published in Granma (the main newspaper of the island) showed Bitcoin as “Possible dethroned from the dollar as the main currency of the world economy”.

And also in another post from 2019, they defined Bitcoin as a possible tool to “resist economic siege”.

While no official cryptocurrency action has yet been announced, this is a step forward for the island.