Venezuelans have set a record bitcoin volume by trading bolivars for Bitcoin than they ever did. The country’s embattled currency, the sovereign bolivar (VES) suffers from rampant hyperinflation.

The runaway inflation has increased to 10,000,000%. So, the resident’s only choice is to secure their wealth with Bitcoin. Data from Coin Dance says the Localbitcoins users have alone earned a record of 57 billion bolivars. The previous all-time high was 49 billion. According to a US non-profit, the country’s national cryptocurrency Petro crypto has failed. Though the bolivar count on Localbitcoins is increasing, the number of bitcoin is sharply declining. The record of 57 billion has resulted in just 574 bitcoins, which is comparatively less than previous weeks.

The Venezuelan government does not support Petro which further weakens the bolivar and imposes embargoes on foreign currency.