Bitcoin and USDT attract modest premiums in Paraguay as millions face banking crisis

Bitcoin and USDT have traded at premiums in Paraguay's peer-to-peer markets as a banking collapse unsettles the country's financial system. The turmoil has coincided with a 10% surge in the dollar against the Paraguayan guaraní, growing public interest in Bitcoin and calls from crypto executives for alternatives to traditional banking. Data from CriptoNoticias , which tracks Binance P2P prices, showed Bitcoin's indicative buying price at 498 million guaraníes on Nov. 6. Using an exchange rate of approximately 6,469 guaraníes per dollar, this is equivalent to $76,982.53 and represents a premium of roughly 1.7% over the international Bitcoin price of $75,716. A review of Binance P2P advertisements on Nov. 5 found a median buying price of 6,399 guaraníes for USDT, about 4% above the previous day's central bank dollar reference rate.

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