Published on November 14th, 2017 | by bitcoin0
Bitcoin is Trading for $12,500 in Zimbabwe
Bitcoin is trading at a huge premium on local Zimbabwean exchanges, as the embattled country struggles through another bout of hyperinflation.
At press time, BTC was selling on the local exchange, golix.com, at $12,500.
The substantial premium – nearly double the price in the US – is likely connected to the difficulty in obtaining access to other international exchanges.
Obviously, the market at this stage represents an arbitrage nightmare, depending on which side of the transaction a consumer is on.
However, the clear use case should give hope to Bitcoin bulls, looking to see the price increase to higher levels.