Bitcoin Becomes An Economy Saviour In Zimbabwe - Trading At 85% Premium

For those who do not know much about Zimbabwe. It is an African Country that has experienced so much hyperinflation in years with an extremely devalued currency. Recently, with the country showing the possibility of another level of hyperinflation, most of the citizens are quickly switching their gears toward dollars and bitcoin.

The government recently stopped all payments in credit card and also restricted the in-flow and out-flow of cash in the country which has then compelled people to start making use of bitcoin not just as storage but even as a means of transaction. As a result of this development, the value of bitcoin has risen up to $7200 which truly shows how readily people are willing to find ways they can do transaction without the control of government and bitcoin has apparently given them a way out. So many other countries such as Venezuela are also taking same turn, by switching to bitcoin as a saviour.

I totally believe this sort of development in so many countries will most definitely start giving bitcoin an upper hand until we gradually hit the mainstream. What are your thoughts?

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