While everyone in the space is talking about El Salvador and its crypto adoption - which I'm really excited about since it's great that they are taking important steps towards the adoption of cryptocurrencies, did you know brazilians buy bitcoin because our currency, The Brazilian Real (BRL), has been losing value? In the last twelve months 1 USD cost about 3.90 BRL and today it's rated at 5.70 BRL per USD. A loss of over 25%.
In Brazil, we don't buy Bitcoin because it is the best investment in the world (which is most likely true) but also to protect ourselves against hyperinflation - this year alone the cost of gasoline and diesel went up over 40%. However with our national currency deteriorating at an alarming rate; many people want protection for their money by investing in cryptocurrencies.
Submitted October 26, 2021 at 06:48PM by Guigamuck https://bit.ly/3E9bWqK
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