A survey by Sherlock Communications through its search platform, Toluna, found that 48% of Brazilians believe their country should adopt bitcoin, with 31% and 17% strongly agreeing with the idea, a local news agency reports. Valor Invest. Besides Brazilians, the study also polled people from Argentina, Colombia, Costa Rica, El Salvador, Venezuela and Mexico.
“Brazilians were the biggest proponents of bitcoin recognition in the region, with 56% supporting El Salvador’s approach and 48% saying they wanted Brazil to adopt it as well,” the study said.
When asked about the outlook for cryptocurrency in Brazil, 31% of respondents said they see progress in the country, while 35% said the South American country still lags behind other countries. Moreover, 23% of those surveyed said there will be more bitcoin users in the future, and only 4% believe there is no future for that in Brazil.
The study found that Brazilians invest in Bitcoin primarily as an investment diversification, with about 55% of respondents doing so. Protection against inflation and economic instability came in second, collecting 39% of Brazilians. On the other hand, 37% of respondents said they buy bitcoin and cryptocurrencies to keep up with technology trends, and 92% of those surveyed know about bitcoin. – Compared to only 31% who know about Ethereum.
The study said that bitcoin exchange-traded funds in Brazil “allow people to invest… in a regulated manner, allowing the most conservative investors to experiment with cryptocurrency,” noting that there are more than 1.4 million users of bitcoin and cryptocurrencies in the country. Plus 21 Bitcoin ATMs.
According to Luiz Eduardo Abreu Haddad, an advisor to Sherlock, the Bitcoin market continues to grow in Latin America. – A trend he said is set to continue in the coming years.
“In Brazil, the friendliest regulation has attracted institutional and corporate investors to the sector,” he said. “The El Salvador experience can become a great reference for Latin American countries on how to integrate blockchain and cryptocurrency into their economies and bring greater well-being to their citizens.”