Which shows that in Venezuela we are really good at screwing ourselves over all the time.

Who sets the price of USDT in bolívares?

Many wonder why the price of USDT in countries with high inflation like Venezuela seems to have a 'life of its own' and does not exactly match the official or parallel dollar.

The truth is that USDT does not have a fixed price in local currency.
Its value is determined by supply and demand in the market, just like any other asset.

So…
Who really defines it?

The people who buy and sell USDT in bolívares, mainly through P2P platforms like Binance, OKX, or even Telegram and WhatsApp groups.

It is not the government or a company that sets the price.

It is a free market where thousands of users post prices according to their convenience, and an 'average price' is formed that everyone looks at as a reference.

This also explains why there can be differences between platforms or why the price moves so quickly: if more people are buying USDT, the price in bolívares goes up, and if more people are selling, it goes down.

Understanding this is key to avoid falling into confusion or comparisons with the official dollar, since USDT is not tied to any government rate.

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