Bitcoin trades in Kenya up by 32%

 There was a leap of over 30% in Bitcoin trades in Kenya on the peer-to-peer exchange localbitcoins in the first week of 2017. This was after 76 Bitcoins were exchanged within the country in the week ending 7th January 2017. 

The last week of 2016 (25th December 2016 to 31st December) had recorded  a total sum of KES 6,014,117 ($58,700) worth of the cryptocurrency  traded in Kenya on the localbitcoins platform. The 32% rise to trade KES  7,973,373 ($77,500) with 16 more Bitcoins exchanging hands (up from the  previous week’s KES 6,014,117) would be attributed to the Bitcoin rally  that saw the price cross the $1,000 mark on the New Year’s day and go  up to highs of $1,140s, a record 3 year high. 

 Most Kenyans who’d learnt of the digital currency as a result of the  price spike were trying to get in with the numerous little sums having  felt like they missed out on the lower prices while at the same time a  number of Bitcoin holders were offloading to cash in on the gains.