Bitcoin price hits $16,5k in Zim

Bitcoin price hits $16,5k in Zim

HARARE, November 27 (The Source) – The price of bitcoin in Zimbabwe as quoted at the local exchange, Golix, rose 13,79 percent on Monday to trade at $16,500, about 65 percent above the global price.

The global price of bitcoin stood nearer $10,000 on Monday.

About 3 bitcoins had been sold at Golix in the last 24 hours and 157 bitcoins were sold over the last 30 days. In comparison, thousands of bitcoins are traded per day on other popular exchanges like Coinbase.

As such, thin trades recorded at Golix relative to other large exchanges and a huge premium that traders are prepared to pay, speaks to the acute liquidity challenges in Zimbabwe as some individuals buy bitcoins to facilitate foreign payments.

  • Gari Moyo™

    I’m still trying to understand what exactly bitcoin is


    If Bitcoin is currently going for $16,5k and the USD is currently trading on the black market at 50% – 60% premium (bank transfer rate), then it means it is currently cheaper for one to convert your worthless bank transfer into USD