Though bitcoin value is hovering in & around $10,000 for the rest of the world, in Zimbabwe 1 bitcoin bears the value of $76,000. This sounds outrageous but it’s true.

Recently, there has been a ban imposed on local trading in foreign fiat currencies. So, if someone is buying Bitcoin from outside of the nation he is seeing the asking price for a bitcoin is over $50,000. Some sources have also reported over social media that some traders are mentioning asking price over $76,000.

Experts cite that the main reason for this is the rising inflation in the country which the local government fails to recognize. Also, bitcoin and cryptocurrency trading in Zimbabwe has been banned by the government. So, obviously, as the demand for crypto is higher, traders are taking advantage of it.

To add to the trouble, last year the one and only crypto exchange in the country shut down. So, naturally, the demand for bitcoin comes at a hefty price. The only way left to buy BTC is from abroad, which explains why the Bitcoin Price in Zimbabwe is sky-high. Recently, Bitcoin reached an all-time high value by crossing $10,000.