Is Bitcoin Really Selling For $76,000 in Zimbabwe ?
Bitcoin traders in Zimbabwe and South Africa are experiencing skyrocketing premiums on their bitcoin (BTC), according to a report Fxstreet on July 2nd 2019.
Amid South Africa and Zimbabwe’s recent ban on local trading in foreign fiat currencies, local traders have reportedly seen asking prices of as high as $50,000 per 1 BTC if they attempt to purchase from abroad.
Bitcoin is currently trading above $10,915 on South African crypto exchange Luno, according to CoinMarketCap data — 10.5% above its price point on Cointelegraph’s bitcoin price index.
Commentators on social media this week claimed that bitcoin is allegedly trading at as high as $76,000 in Zimbabwe. This is a premium of over 600%. Screenshots from P2P site LocalBitcoins.com shared on Twitter have seen traders attempted to pocket colossal gains at an asking rate of $75-76,000:
Commenting on the allegations, Tuur Demeester who is the founding partner at Adamant Capital Tweeted :