Yes, BOLIVAR is a Scrabble word!

Letter values in Scrabble US: B 3, O 1, L 1, I 1, V 4, A 1, R 1.

Is it a valid word?

BOLIVAR is a valid word in the official Scrabble dictionary (US), the UK Scrabble Dictionary and Words with Friends (ENABLE).

the basic unit of money in Venezuela; equal to 100 centimos
Venezuelan statesman who led the revolt of South American colonies against Spanish rule; founded Bolivia in 1825 (1783-1830)

Also: simon bolivar, el libertador.