The price of Bitcoin has reached USD10, 000 in one country: Zimbabwe.
Beset by rampant hyperinflation, the citizens of Zimbabwe have embraced digital currencies. There is even talk by some that Bitcoins might even become the national currency.
As governments continue to practice fiscal irresponsibility and pump up their money supplies, people around the world will continue to question this devaluation of currency.
In the past, people had no alternative to government currencies, but with the advent of the digital currency age, money holders can vote with their wallets.
This profound change with have many implications for monetary policy, and we might start seeing not just people, but entire countries start to hold some or all reserves in digital currencies.
Zimbabwe is the first, and likely won't be the last.