The Zimbabwean Stock Market is mooning, up %800 this year as investors look to store their wealth in anything other than the currency. The annual inflation rate in the country is 175% and has been devalued by the local government for official exchange rates.
Investors in the country are running to equities and real estate for shelter from mass devaluation, anything but #Bitcoin right?
https://void.cat/d/2jcQ9hWTbBB2CMKF24MawV.webp
As someone who was their for the previous hyperinflation in 2007 - 09 when Bitcoin wasn't around/just starting I can understand this behaviour, but to repeat it again is nuts.
After blowing up The Zim Dollar the first time the government offered people a moving to a multi-currency economy (USD/GBP/ZAR/EUR) for a few years before re-introducing the Zim Dollar in 2019.
In less than 5 years the currency is already starting to fail again, crazy this country ravaged by economic malpractice on an epic scale are not running straight for Bitcoin
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