A surge in demand for digital currency in Zimbabwe has highlighted an interesting quirk in the trading of bitcoin, as well as the current economic woes the African country is facing.
"Zimbabwe panic sends bitcoin soaring over $6,000?" asked a report on one cryptocurrency website over the weekend. While the answer is clearly no — there's not enough trade in Zimbabwe to impact the price — it does hint at two issues.
Firstly, Zimbabwe appears to be facing some serious currency concerns again.
Nonetheless, this big price difference for bitcoin also highlights the second issue. Different jurisdictions having different currency rules will mean some price quirks. The knock-on effect? It will allow arbitrage trading — exploiting price differences between similar financial instruments.
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