A Financial Expert has observed that the trading between the Bitcoin and the Kwacha has grown by 250 percent in the last three Months.
Munyumba Mutwale of Nikiwa Capital Partners says year on year growth between the crypto and local currencies is at 100 percent.
Mr. Mutwale says development is not an investment opportunity, but a good trading opportunity for high speed trading.
He notes that more people in the country are adding the Bitcoin to their portfolio despite it not yet being regulated.
The Financial Expert says his organization has been tracking the Bitcoin-Kwacha spread since last year and has recorded great growth.
Mr. Mutwale was speaking on Money FMs’s behind the Markets Radio Program that airs every weekday at 07:30 hours.
A bitcoin is a type of digital currency in which a record of transactions is maintained and new units of currency are generated by the computational solution of mathematical problems.
The Bitcoin operates independently of a central bank. One Bitcoin is currently equal to 151,454.25 Zambian Kwacha