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At the time of publishing, one bitcoin cost R175,623.

The Luno head highlights that theres been greater interest from institutional investors looking to hedge their risks against other asset classes that may not be doing well due to the crisis. This growing interest from established or traditional market players is important for increasing the credibility of Bitcoin and other crytocurrencies, Reitz says.

The discussion ends with Reitz talking about a a new documentary called Banking on Africa: The Bitcoin Revolution, backed by Luno. The documentary follows the journey of some of Africas Bitcoin pioneers as they seek to leverage cryptocurrency to leapfrog world economic powers. It will be available for streaming on Amazon Prime from May 22, as well as other local platforms, says Reitz.

Reitz also takes time to explain the recent Bitcoin halving event, its importance and significance, and gives details aboutof Lunos current trading volumes.

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PODCAST | Why is Africa the most promising region for cryptocurrency? - Business Day