Bitcoin Currently Worth $6150 in Zimbabwe.

I just checked my crypto news site to see what was happening in the world of blockchain, and I noticed this headline:

Bitcoin Prices Skyrocket to $7200 on Zimbabwean Exchange During Economic Turmoil

So a bit of a clickbait title (got to grab attention!) but the article goes on to clarify:

Earlier this week, one bitcoin reached a high of $7200 on the trading platform and the current price per BTC on the exchange is $6150.

This is due to the fact that there is currently only 1 bitcoin exchange available in the country, so they're not able to buy from say CoinBase or Gemini.

Are they not able to use something like BitShares? I guess not...

As you probably know; Bitcoin has been touted by some as not only being a new way of doing things, but as potentially becoming the new currency in the event of economic collapse.

Venezuela has also seen trouble recently, some have even begun calling Bitcoin "the people's currency" in that country, and it seems that Zimbabwe has also followed suit:

As the country continues to deal with economic hardships, many Zimbabweans believe bitcoin could be the answer to their problems. Gauging by the current demand for bitcoin in Zimbabwe, they are probably right.

I feel bad for what people in these countries are experiencing, but like we saw with Bitcoin being used to help the victims of the recent earthquakes in Mexico, I think positive news stories surrounding Bitcoin will continue to pour in.

The article also talks about a group attempting to use Bitcoin to help farmers, which also very interesting, so be sure to give it a quick read if you've got the time.

Thanks for viewing!

image from PixaBay