Published On: Mon, Nov 20th, 2017

People Turn to Bitcoin During Times of Crisis

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The ongoing turmoil in Zimbabwe reinforces the fact that people around the world are increasingly turning to Bitcoin in times of crisis.
In times of crisis, individuals look to a number of things to help support them through the troubled times. Some of these items include faith, family, and a belief that better times are just around the corner. Another article that people are turning to during a major crisis is Bitcoin.
Uncertain Times Lead to Increasing Use of Bitcoin
The most recent situation where Bitcoin and a crisis intersect is Zimbabwe. The African country is in turmoil after its leader (or dictator, depending upon your point of view), Robert Mugabe, was toppled by the country’s military. The situation is very volatile as Mugabe still has not officially stepped down and has actually called for a cabinet meeting tomorrow, missing a deadline made by Parliament that he resign.
Robert Mugabe
While it’s unknown how the final situation will shake itself out, we do know with certainty that people in Zimbabwe are turning to Bitcoin to address the country’s rampant inflation. In fact, the price of Bitcoin in Zimbabwe jumped to double the international rate …

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