Supporters of the Cuban demonstration gathered in Little Havana, Miami, on Tuesday.

Economic media CNBC reported on the 29th that Cuba's central bank, which faced a crisis due to U.S. economic sanctions, recognized cryptocurrency (virtual currency) such as Bitcoin as a means of payment.

The CNBC analyzed that the Cuban Central Bank seems to have made the decision as a desperate measure due to the lack of cash circulated due to U.S. economic sanctions.

Cuba's central bank said on the previous day that it plans to recognize cryptocurrency including Bitcoin as a means of payment and prepare related regulations.

Cuba has been struggling to use the dollar due to former U.S. President Donald Trump's economic blockade of Cuba and a sharp drop in aid and exports from his ally Venezuela.

The dollar became more precious as the economic situation in Cuba worsened due to the coronavirus outbreak. As a result, Cuba's central bank seems to have recognized cryptocurrency as a means of payment.

Earlier in June, El Salvador recognized Bitcoin as an official currency that guarantees payment by the central bank and is investing in related infrastructure. El Salvador was the first country to recognize Bitcoin as an official currency.