Apart from Bitcoin price, its awareness and adoption are surging as well. In countries like Palestine, Zimbabwe, Russia, and others, people are actively involved. Meanwhile, government authorities are also showing positive sides.
Palestine & Zimbabwe finds the savior in Bitcoin & cryptos
Price is not the only aspect in the market that is seeing action. Bitcoin and cryptocurrencies, in general, are making a lot of headway when it comes to awareness, interest, and adoption.
To start with, the people in Palestine are using Bitcoin not only for investment but also for online shopping. Though the number is still limited, it is a start which will only grow from here. Reportedly, there are around 20 unofficial crypto exchanges in the area as per Gaza-based financial analyst Ahmed Ismail.
Ismail has helped about 30 clients while another dealer Mohammed has helped about 50 families to buy bitcoin who stated:
“Nothing works with Palestinian banks. Bitcoin wallets are alternative banks.”
However, with no crypto exchanges available in the territory, dealers are their sole option that makes it difficult to get any fair pricing. But people are slowly but surely turning to Bitcoin and cryptos as Kassis, a tech industry player is organizing a crypto hackathon later this year as “It’s all about bringing awareness and creating new markets.”
It is a well-aware fact that Zimbabwe is currently going through high inflation with a severe cash shortage. This has made the residents of the country take a step towards Bitcoin and cryptocurrencies.
Though the central bank of the country has banned the banks from processing the transactions related to cryptocurrencies, the finance minister of Zimbabwe believes digital assets could help the country.
Recently, Mthuli Ncube stated,