I'm from Venezuela, the first country to issue its own cryptocyrrency El Petro PTR and the incentives to use crypto here are huge.
I can change my SBD to Bolivares Bs super easy and there is a plenty big market for that.
So I cannot think about the scenario you propost applied here, hahaha.
Edit: I forgot to mention that we are probably going to be the first country on issue a crypto and that it crashes :)
I was under the impression that Venezuela banned Bitcoin mining. Not sure about hodling though.
Yes, Bitcoin mining was banned in Venezuela using "Electrical system abuse"(since it is subsidized to be so cheap) and "Financing terrorism" as the charges to put people involved in minning in jail.
However, today they encourage investors to create mining farms and mine as long as everything is transparent, without stealing power etc. They even created a register for minners(in wich a lot of minners dont trust since they believe that if they register they will be robbed or kidnapped).
You can read about it here.