Thursday, December 2

Ten million Brazilians invest in cryptocurrencies, says study

A recent study suggests that ten million Brazilians already invest in cryptocurrencies, placing Brazil as the fifth largest market in the world.

The data were obtained from a study carried out by TripleA and Binance, a brokerage that has in Brazil one of its main markets in the world.

The number of cryptocurrency investors at 10 million people would put this market larger than the local stock exchange, B3, indicating a greater interest in having digital currencies than shares. Information is from FinDocs.

About ten million Brazilians already invest in cryptocurrencies

In a recent study released by FinDocs, the investment market in cryptocurrencies in Brazil turned out to be large and promising, with ten million Brazilian investors already investing in this sector.

On November 3rd, B3, the only stock exchange in Brazil, released that it had reached 4 million individual accounts, a number that could be less than half of the cryptocurrency market, according to a study by TripleA. Recently, B3’s CEO attacked cryptocurrency brokers, who responded that he might be “cornered” by the market.

With 10 million Brazilians investing in cryptocurrencies, this market by then would have reached 4.9% of the Brazilian population, being the fifth largest in the world, behind India, USA, Russia and Nigeria.

The data thus reveals that the potential for adoption and growth in the sector is still huge, as the adoption movement is just beginning. Public data, however, already reveal that Brazil is the third country that most accesses the Binance platform, already highlighting the country.

In percentage terms, the study reveals that Ukraine is the country with the most investors in the market, with 12.5% ​​of the population having already invested in digital currencies, followed by Russia, with 11.9%.

The country had one of the biggest increases in inflation in the world

It is worth noting that another study of the FinDocs it also shows that Brazil had an accumulated growth in inflation over the last 12 months of 6.3%, one of the highest in the world. Spain also registered an increase in the same proportion as Brazil, showing that European countries are also under pressure.

The third country with the highest inflation in 12 months is the United States, which saw the purchasing power of its population rise 5%. That country is the biggest power in the current economy, showing that the 98% rise in Bitcoin in 2021 may have helped investors maintain their purchasing power.

It is noteworthy that China registered an inflation of only 2%, being one of the lowest in the world. The demand for cryptocurrencies may not have a direct relationship with protection against inflation, but it shows that it grows as national currencies fail to remain stable.

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