Investors Zimbabweans are turning increasingly to the Bitcoin

In a political climate very tense, most Zimbabweans are turning to crypto-currencies, especially Bitcoin. The price of this digital currency has indeed reached the us $ 13 500 after the armed forces took power on Wednesday. This crypto-currency is often seen as a risky investment, because its price is extremely volatile. But, in desperation, Zimbabweans are looking to invest their money in something of value.

Here is a video clip of this assumption of power :

The political situation in the country has caused a hyperinflation. When the army of Zimbabwe has taken the power, she took control of the national radio channel and said have place president Robert Mugabe under house arrest.

Zimbabweans have withdrawn their money from the bank

Queues have been observed on Wednesday morning, outside banks in Harare, the capital of the country, and some have slept outside the institution to withdraw their savings. The value of the Bitcoin has nearly doubled in the country, due to the challenges of liquidity in Zimbabwe. The current price of this digital currency beats the records of October, and reached over 10 000 dollars, reports the media outlet Quartz.

Yeukai Kusangaya, a sales manager of the stock Exchange Golix in Zimbabwe, said that interest in Bitcoin has reached its peak, because the users can’t send money abroad or pay for international transactions using bank formal.

The Bitcoin a real alternative for Zimbabweans

Zimbabweans have had to look for alternatives, and Bitcoin was a real solution. They can use to buy products on Amazon or to pay their bills. The Bitcoin is a synonym of stability for the Zimbabwean people.

Arnold Manhizwa, who works in a computer company and telecommunications in Harare, said he has changed all his money in Bitcoin, since it is the only way to protect his investment.

Source : Independent