Bitcoin Trading at 85% Premium in Zimbabwe - Priced at $7,200

[alyssa85]

https://cointelegraph.com/news/bitcoin-trading-at-85-premium-in-zimbabwe-priced-at-7200

The use of Bitcoin in Zimbabwe has grown exponentially as the government has begun to stop all credit card payments and has restricted the flow of cash into and out of the country. People wishing to make payments for vehicles have been forced to use Bitcoin and car lenders are happy to accept.

In all the chaos, the price of Bitcoin on the local exchange, BitcoinFundi, has soared to $7,200. This premium reflects a frantic desire to find ways to transact within an economy where government controls have made traditional means impossible.

[ivrynx]

I do not know how to react on this news, whether i would happy for them since they are using bitcoin or be shocked that there is an 85% premium, or be envious since the value of bitcoin in their country is at 7,200 usd already. I think we still need to verify this news,  though at some point i am glad that even zimbabwe is using bitcoins for transactions, we all know that their fiat has been devalued over the years since their government just printed out a lot of paper notes, thinkjng that it would save them, i guess now that they have bitcoin, the government can finally lift their country from being poor, hoprfully this will all end well for them. I also think that if the  government of zimbabwa will only allow bitcoins or other crypto coins as means of transaction, they will attract investors who are also thinking the same, more likely, they might attract people from the e-commerce.