Shop Smartphones

Bitcoin Price hits record $89.9k

Staff Writer Avatar

Staff Writer

Pornhub Bitcoin

The price of Bitcoin hit a record $89,000 today. The price is more than double the January price of about $40k, a 122% increase! The price however dropped slightly but remaining above $85k.

The surge in price is been credited to US President Donald Trump recent election victory. It started on the US election night when it was clear that Trump would win.

Trump has embraced crypto, calling himself “the crypto president” and saying his objective is to make the US the “crypto capital of the world.” With technologist and entrepreneur Elon Musk being an unofficial Trump advisor, the expectation of the market is that Musk’s views on cryptocurrencies with be adopted by the Trump administration.

Crypto enthusiasts are therefore hoping for relatively lax regulation compared to the Biden government whose stance was to rein in cryptocurrencies.

The rise in price means people holding Bitcoin have made significant gains this year. Some experts have said that the rise could surpass $100,000 in the coming months. Of course, nothing is guaranteed.

In Zimbabwe, crypto trading remains an underground activity since a government ban on crypto trading using formal financial systems back in 2018. A significant number of local enthusiasts and traders lost their crypto following the ban as the exchanges in the country froze crypto they held.

Zimbabweans however still use crypto in the shadows as a means to do activities such as forex trading on the internet. Crypto is also sought by people that have fallen victim to online scams and ransomware attacks.

Typically, crypto traders get USD cash and transfer the crypto to the recipient, who then uses it online. The crypto traders either get their Bitcoin from bigger wholesale traders or by buying the Bitcoin from end users looking for USD cash.

Because it’s underground, it’s unclear however how big the crypto market is in Zimbabwe.

Browse more phones

8 comments

What’s your take?

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

  1. RTD Satoshi

    Going all the way to $200,000 as predicted.

    Reply
  2. Bitcoin Riddim

    The Trump lads shot a Leopard here in Zimbabwe. To hunt a leopard you will have to loosen the strings and participate in The Lion Hunt, no firearm allowed, cross bow allowed, go pro and trail cams allowed.

    Reply
  3. Go Loud6📯

    Some geeks are on their way to buy Lambos or other exotics. 89k bloody hell. 😎👊

    Reply
  4. Always Off Topic

    Its cryptomania all over again. But this time its going to be 1000000X. Trump promised to fire current SEC Chairman, who has been a pain for all the crypto-bros in the past. Rumours are that the US will establish a reserve of some sort in Bitcoin (there is a Bitcoin Act in the making, if you can believe it), think Gold reserves, but with Bitcoin (one wonders what Federal Reserve officials make of this). Also, various US law enforcement agencies are sitting on several billions worth of cryptos confiscated from criminals they have apprehended. So yeah, get ready for another wave of crypto scams coming your way.

    Reply
  5. Beach Bum Hedge Fund Managers

    Guys I once asked a banker who had just come back what a hedge fund was. He either didn’t want to tell me or he didn’t know as well, I doubt that though he most likely knew.

    So is a hedge fund like this. You give me a 100million dollars. I take that 100million dollars and buy Bitcoin at $15,000. Even though it was not steady, it went as high as $60,000 then came down to $40,000 then $20,000 then as low as $5,000.

    So I use that 100million dollars hedging a bet that it will increase in price in the near future.

    100m / $15,000 = 6,666.6666667 Bitcoins

    6,666.6666667 x $100,000 = $666,700,000 (aprox.)

    Current Hedgefund Account 9 Balance = $666,700,000
    (not including transfer fees and or interest)

    *After giving back investors their share*

    Current Hedgefund Account 9 Balance = $173,342,000

    This is just the Bitcoin account what about in the Etherium, Oil and Gas, Mining, Agriculture, Construction, Communication, Sport, Film & Media Accounts.

    I am assuming this is how it works…

    Reply
  6. Market Tracer💄

    Beach Bum😎🍹👙

    I see you are keeping your 26% commission and flexible working environment, I heard about your parties each last Friday of the month😜🙈

    Consider this, you left out transport from your portfolio which I know you have, what are you cooking up?

    Beach Bum Hedgefund Managers should also consider investing in depressed assets and little known vehicle companies in Africa like AVM, ZIMOCO (sport exotics), Quest, Croco.

    You will clean up, when they become multinational. ✊🐎

    Reply
  7. Bitlocker 💰

    Bitcoin came after the 2008 world financial crash. Someone or something posted a white paper online on an alternative currency.

    That entity was called Satoshi Nakamoto. The guys who created Bitcoin met online can you imagine, and did some clever computer wizardry and left with a million Bitcoins. Bitcoin used to be less than a dollar kunana 2010 ikoko I think.

    Imagine if a forward thinking reserve bank governor had bought 1million bitcoins and held them in trust for the nation, and not self.

    $89.9 Billion dollars for them, him or her at the current Bitcoin price. 🙏

    Reply
  8. DJD 🙌

    Nelly – Country Grammar

    Reply
Share
Home
Join Waitlist We will inform you when the product arrives in stock. Please leave your valid email address below.