A survey conducted by Sherlock Communications through the research platform, Toluna, found that 48% of Brazilians think their country should adopt bitcoin, with 31% agreeing and 17% agreeing with the idea, as reported by the local press Value Invest. In addition to Brazilians, the study also surveyed people from Argentina, Colombia, Costa Rica, El Salvador, Venezuela and Mexico.
“Brazilians were the main supporters of Bitcoin recognition in the region, with 56% supporting El Salvador’s approach and 48% saying they want Brazil to adopt it as well,” he said. ‘study.
When asked about the prospects for cryptocurrency in Brazil, 31% of respondents said they see progress in the country, while 35% said the South American country is still lagging behind other countries. In addition, 23% of respondents said there would be many more Bitcoin users in the future and only 4% believe there will be no future in Brazil.
The study found that Brazilians invest in Bitcoin primarily as an investment diversifier, and about 55% of respondents do so. Protection against inflation and economic instability came in second, accounting for 39% of Brazilians. On the other hand, 37% of respondents said they buy BTC and cryptocurrencies to keep abreast of technological trends and 92% of respondents know Bitcoin – compared to only 31% who know Ethereum.
Funds traded in exchange for Bitcoin in Brazil “allow people to invest … in a regulated way, allowing more conservative investors to experiment with cryptocurrency,” said the study, which noted that there is more of 1.4 million Bitcoin and cryptocurrency users in the country. as well as 21 BTC ATMs.
According to Luiz Eduardo Abreu Haddad, Sherlock consultant, the bitcoin market continues to grow in Latin America – a trend he said will continue in the coming years.
“In Brazil, friendlier regulation has attracted institutional investors and corporations to the sector,” he said. “The El Salvador experiment could become a great reference for Latin American countries on how to incorporate blockchain and cryptocurrencies into their economies and generate greater well-being for their citizens.”