Bitcoin Forum

Volume of bitcoin trades in Brazil increased rapidly in Brazil since May. Over the last few months, the volume of all bitcoin trades have risen from US$1.65 million to US$2.6 million, showing a 158 percent monthly increase in trading volumes across all exchanges.

https://bitcoinmagazine.com/21804/volume-bitcoin-trades-continues-surge-brazil/

This is not surprising. When a country's monetary and fiscal policies fail to keep inflation in control, people tend to look for alternatives. Brazil's inflation rate hit a 12-year high of 9.5% this month. No wonder, bitcoin volumes are surging.

Guess this trend is set to continue. If your fiat money becomes so to say worthless you have no choice but to turn to something that still have value.

I hope that the adoption of bitcoin in these nations become so ingrained that bitcoin becomes like a national currency. The more people who adopt and use it the better. It will make it so much more difficult for the government to implement their own kind of digital currency which would in turn hopefully lead to them just adopting bitcoin.

Yeap, it is an interesting trend. In all countries which have a high inflation rate, the Bitcoin volume is increasing steadily whereas Gold and Silver purchases stagnate or plunge. Brazil, Venezuela, Argentina, Greece (no high inflation but other economic problems), etc.