Nearly Half of This Country’s Residents Would Welcome the Adoption of Bitcoin As Official Currency: Report

Nearly Half of This Country’s Residents Would Welcome the Adoption of Bitcoin As Official Currency: Report


A new study reveals that almost 50% of one South American country’s residents say they would welcome the adoption of Bitcoin as their official currency.

A survey cited by São Paulo-based financial education website Valor Investe polled 2,700 respondents from Brazil, Argentina, Chile, Colombia, Costa Rica, El Salvador, Venezuela and Mexico.

 

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The study shows that nearly half of Brazilians want their country to join El Salvador by recognizing Bitcoin as legal tender.

“Brazilians were the biggest advocates of crypto-recognition in the region, with 56% supporting El Salvador’s approach and 48% saying they want Brazil to adopt it as well… Another 30% neither agree nor disagree and 21% are against the idea (12% disagree and 9% strongly disagree).”

According to the poll, there are three primary factors motivating Brazilians to invest in cryptocurrencies.

“About the main reasons for investing in cryptocurrencies, Brazilians mention: to diversify investments (55%), protect against inflation and financial instability (39%) and follow the technology trend

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