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Zimbabwe eyes cryptocurrency as Bitcoin nears all-time high of $66,975



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Bitcoin on Monday surged closer to its all-time high of $66,975 achieved in October.

This came just as a report emerged that the Zimbabwean government is looking into cryptocurrency.

Bitcoin, which is the most capitalised cryptocurrency at $1.25 trillion, appreciated by 6.46 percent in the last 24 hours, rallying to $66,530.58.

Although the decentralised digital currency retracted by 0.5 percent during work hours to settle at $66,196.40 [the coin’s current market value as at the time of filing this report], dropping $334.18 before the close of business in Nigerian time.

In recent weeks, Bitcoin has been trading sideways, facing resistance to its bullish drive to hit the milestone of $70,000.

As the crypto continues its quest for the next milestone, the Zimbabwean government is consulting with the private sector to weigh Bitcoin’s position in the financial market.

READ ALSO: Bitcoin crashes, as New York Mayor, Adams, agrees to earn salary in crypto

The Permanent Secretary and Head of e-government Technology Unit in the Office of the President, Charles Wekwete, said: “Government has put in place mechanism to try and gather views from various sectors of society in order to eventually formulate policies.”

Wekwete said the government has been trying to understand the implications of cryptocurrency as it creates a different financial path known to the global market.

“Sooner or later government will make statements but we have not gotten there yet, the consultative process is already underway,” he added.

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