If you are up on the latest crypto related news then you would know that Venezuela released the petro cryptocurrency to avoid sanctions, which was promptly sanctioned itself.
In response to the flurry of requests for help, Wilcox last month partnered with AirTM, a Mexico-based peer-to-peer exchange, to promote zcash as an optional intermediate step when converting bolivars into U.S. dollars.
Apparently AirTM may be using Zcash to help those in Venezuela convert between currencies to avoid inflation and/or potentially dodge sanctions. While there is no guarantee that this won’t fall through, sounds to me like the ball is already rolling.
So, what does this mean?
In short, a price increase for Zcash.
Now, I for one have not been shy about vocalizing my “distaste” and lack of trust in Zcash. Still though, there is a chance for Zcash to get a boost if it becomes the currency of choice to get money out of Venezuela; and a chance at an even bigger boost if people start buying it and holding it to avoid the hyper inflation that Venezuala has been dealing with for a while.
Now, of course, do your own research. But you might just want to keep an eye on the price of Zcash in the coming months, especially if you’re already holding it.
The current price of Zcash at the moment is:
$176.63 or 0.0263 BTC