A recent poll from Sherlock Communications has found that nearly half of Brazilians agree that Bitcoin should be adopted as the currency of the country, following in the footsteps of El Salvador.
Brazilians Bullish for Bitcoin
As reported by Valor Investe, the research reveals 48% of Brazilians in help of Bitcoin as nationwide foreign money (17% sturdy help, 31% average help). In contrast, only 21% rejected the idea (9% strong rejection, 12% moderate rejection). The opposite 30% of respondents had been detached on the matter.
The survey was carried out through the online research platform Toluna and studied support for Bitcoin and cryptocurrency across various other Central and South American countries. These included Argentina, Chile, Colombia, Costa Rica, El Salvador, Venezuela, and Mexico. Of all the aforementioned regions, Brazilians showed the most support for the primary cryptocurrency.
“Brazilians had been the most important advocates of crypto-recognition within the area, with 56% supporting El Salvador’s approach and 48% saying they want Brazil to adopt it as well,” says the study.
Notably, Brazilians’ curiosity appears to be uniquely targeting Bitcoin. BTC was by far the most notorious among those polled, with 92% recognizing it. In the meantime, solely 31% and 30% of respondents knew of Ethereum and Litecoin, respectively – two of the most well-liked altcoins in the marketplace.
Bitcoin: Risky or Secure?
Despite common media depictions of Bitcoin as a ‘risky’ investment, Brazilian support for it rests on the exact opposite assumption. When requested about their causes for investing in cryptocurrencies, 39% of respondents cite “safety in opposition to inflation and monetary instability” as a contributing issue. Other major reasons include diversifying investments (55%) and following technology trends (37%).
This may be in keeping with the views of the El Salvadoran authorities, which has repeatedly been buying a whole lot of Bitcoin at a time in the previous couple of days. President Nayib Bukele remains confident that his decision to invest and adopt Bitcoin as legal tender will benefit his people and move the country forward. That is in opposition to the opinions of each JP Morgan and the World Financial institution.
Luiz Eduardo Abreu Haddad, a Sherlock bank consultant, recognizes the importance of El Salvador’s first step in guiding the views and actions of neighboring countries regarding Bitcoin:
“The El Salvador experiment may change into an awesome reference for Latin American nations on methods to incorporate blockchain and cryptocurrencies into their economies and generate well-being for his or her residents.”
While Brazilians seem more open-minded toward BTC adoption, Americans are not on the same page. One other latest research decided that solely 27% would help it if the US legalizes bitcoin.
