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BTC in Zimbabwe? LIE! – Here is the truth!

3 min read


Yes, we have to fight against the FUD towards cryptocurrencies. But we must also, to maintain our credibility, report the buffaloes which unfortunately also circulate thanks to the specialized press.

A few days ago we warned our readers about Zimbabwe, which according to several news sites that deal with cryptocurrencies, was considering introducing BTC and others cryptocurrencies as a legal payment method.

A story had convinced us very little. Zimbabwe is a country that has made of political control over the central bank one of its distinctive figures. A power that has reduced the people of that country to misery (along with other contingent causes). And which in our opinion it would hardly have voluntarily renounced to this kind of power.

Time has proved us right, because the Ministry of Information of the Zimbabwe has categorically denied the introduction of currencies parallel to the US dollar Zimbabwe – cryptocurrencies included. There is more in digital terms, but it has nothing to do with BTC or with other cryptocurrencies.

No, no BTC for Zimbabwe

We took a big risk going against the tide, when everyone – in order not to miss a few clicks – had reported news that even then seemed to be devoid of any foundation and logic. It has been read almost everywhere that it is Zimbabwe, a country battered also for its own faults by inflation, would have evaluated the introduction of BTC, as done by El Salvador a few months ago.

Bullish news – at least according to those who reported it, but that the markets have ignored, perhaps being more smart of the newspapers that deal professionally with BTC and its surroundings.

We had already written then that there was something wrong with the situation, which was not in line with the behavior of the government Zimbabwe over the past decade and to be careful about making decisions based on this news. Which was then confirmed by those directly involved.

The nation can rest assured that the government is not considering introducing another cryptocurrency into the economy, as has been reported by several media outlets. The local currency remains the Zimbabwean dollar and not cryptocurrencies.

Cold shower for those who believed it – and also for some colleague who jumped on the news without going into depth, without analyzing the situation in Zimbabwe and without verifying the sources. Someone will cancel, someone will pretend nothing has happened, while the damage to the credibility of those who deal with cryptocurrencies it is however concrete.

Pay attention to everything you read

Always, even when it comes to positive news. Anyone can make mistakes, even if the bulk of the sounding board for certain types of news comes from a bit of lazy, click-hungry journalism, who prefers to publish something you create. hype even when there is no logical or concrete basis.

For our part – and we say this not without a touch of pride – we will continue in our incessant work of analyzing sources and news, trying to provide the best of our possibilities with true information – and free from FUD or unwarranted hype.

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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