This week bitcoin surpassed $19,000 on global exchanges, with the exception of one continent Africa. Customers of the worlds second largest and second most populous continent were already paying that much per coin back in November. Prices at Africas Golix.com exchange have been 40% higher than the rest of the word for months. Now news.Bitcoin.com can reveal why.
On November 15, it was revealed that Zimbabweans were paying $13,500 for bitcoin, a sum that was described at the time as eye-watering. Last months expensive bitcoin is this months cheap bitcoin, and the intense demand for the digital currency has since pushed it to over $19,000 globally as of this writing. The premium thats been in place at the continents Golix exchange remains in place though. As a consequence, one bitcoin there is currently trading for around $32,000, down slightly from a peak of $34,000.
Citizens of Zimbabwe Use Bitcoin to Access International MarketsWhos talking about us? runs a banner on the homepage of Golix alongside logos for media organizations that include CNN, CNBC, Reuters, and news.Bitcoin.com. Everyone in bitcoin is talking about Golix and theyre all asking the same question why? Why is it so expensive to acquire the virtual currency in Africa? The answer comes from a recent blog post on Golix which outlines the factors that have contributed to the premium price.