Bitcoin trading for $7,200 premium in Zimbabwe
Bitcoin use in Zimbabwe has exploded as the government outlawed credit card payments and has restricted the flow of cash in and out of the country. People wanting to buy vehicles have been forced to use Bitcoin and car lenders are accepting.
The price of Bitcoin on the local exchange BitcoinFundi, has reached $7,200.
https://cointelegraph.com/news/bitcoin-trading-at-85-premium-in-zimbabwe-priced-at-7200
Hyperinflation... Venezuela, Zimbabwe, Yugoslavia, i learned today that Iran has reached second place behind Venezuela for inflation rate (19.7%)
A few years ago i got one of those 100 trillion Zimbabwean dollar bills for a couple bucks on amazon.
It serves as a reminder of the downward spiral a national fiat currency can enter. Its happened in the past many times, its happening now in the present and will almost certainly continue into the future.
BONUS: Venezuelas Bitcoinization:
In order to pay for lunch, locals are beginning to accept only Bitcoin or money wires of foreign currencies, its that bad.
https://cryptocurrencyinvesting.news/first-bitcoinization-of-a-sovereign-state-is-happening-now/