— CriptoPasion.com (@CriptoPasion) July 1, 2019
The rate, which has risen due to much more demand than supply, has reached this value after the Zimbabwean people are forbidden to pay for goods or services in US dollars or another foreign currency. Instead of using foreign currencies, residents should use the Zimbabwean dollar. This measure did not appeal to the population, which again feels betrayed by its government.
Bitcoin payments, which have been banned by the Reserve Bank of Zimbabwe since May 2018 , because of its disruptive nature, now seem to be mainly through LocalBitcoins.
Bitcoin appears to be gaining popularity in countries such as Venezuela and Argentina due to the economic situation.