The Bitcoin becomes more and more a store of value in Zimbabwe as inflation prices start to climb. The Zimbabwe struggle against foreign exchange shortages, which has resulted in a liquidity crisis paralyzing. The Bitcoin has become a store of value and popular platform of exchange of Bitcoin Golix in Zimbabwe has declared that it processed transactions for Bitcoin a value of $ 1 million during the month of October 2017.
The Bitcoin comes as a savior
The price of Bitcoin in Zimbabwe has soared to 12 490 $ yesterday morning, compared to global averages of about $ 6000. It is anticipated strongly that the price of Bitcoin continues to increase in the country. In fact, more and more people to accept because of the difficulties in international payments. “There is inflation in Zimbabwe and the Bitcoin is a store of value, interesting,” said Taurai Chinyamakobvu, a national expert in the field of ICT and technology Blockchain. Yeukai Kusanga, the person in charge at Golix, says to him that ” there are more requests than offers of Bitcoins in Zimbabwe at this time. This strong demand is stimulated by the difficulties in making international payments. “The Bitcoin can be used to pay for imports of vehicles and for the purchase of goods on e-commerce sites such as Amazon “, he adds. In addition, the banks in Zimbabwe often lack liquidity, and the widespread adoption of Bitcoin has proved to be an adequate solution in the long term for the country.
Traders zimbabweans are betting on the Bitcoin
Other experts in Zimbabwe say that Bitcoin, even though it is likely volatility, is a bet more secure in terms of investment. Others consider it even safer than gold in terms of appreciation in value. But there remain concerns about the lack of regulation on the part of the government, although some jurisdictions may act to regulate the transactions of Bitcoins.
The traders and those looking to make international payments are hoping that the price of Bitcoin remains high. They also hope that neither the central Bank nor the government do not intervene to slow down this growth.
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