[2019-04-20]Brazil: Heighest Inflation In 4 Yrs Propels Bitcoin Volume to Record

[tyz]

Brazil: Heighest Inflation In 4 Yrs Propels Bitcoin Volume to Record

The inflation rate in Brazil, the world’s ninth largest economy, spiked to its highest level in four years, driving more people to Bitcoin, as indicated by the recent rise in Bitcoin trading volumes.

https://bitcoinist.com/brazil-highest-inflation-in-4-years-amid-record-bitcoin-trading-volume/

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[joniboini]

Finally, it's happening. I believe more and more case like this will happens around the world, eventually pushing people to use Bitcoin as a store of value while their fiat keeps losing its value due to inflation, and so on. If their hard earned money loss nearly 50% of its buying power in a year, they'll get wrecked really hard if they don't use Bitcoin or another long-term store of value.

Hopefully, their life will be better later on.

[sheenshane]

I never thought that Brazil would have an inflation rate in Bitcoin volume. And not just that, it became one of the highest Inflation rates.
razil is Latin America’s biggest economy and also one of the key regional players in the cryptocurrency market. The nation reached a new record in Bitcoin trading volume of nearly 100,000 BTC, according to a report by the local analytical tool “Cointrader Monitor”.

The problem is that the Bank is against the bitcoin exchanges in Brazil. Some of the banks actually closed the deals with cryptocurrency exchanges because of the threat. The Local Association of Crypto and Blockchain also submitted a complaint to the Brazillian Administrative Council for Economic Defense because the Bradesco actually had no legal basis to support the closure of the accounts and is definitely boycotting and violating the competition rule.

Here's the link:
https://crypterium.com/news/open/brazil-bitcoin-trading-volume

[tyz]

Finally, it's happening. I believe more and more case like this will happens around the world, eventually pushing people to use Bitcoin as a store of value while their fiat keeps losing its value due to inflation, and so on. If their hard earned money loss nearly 50% of its buying power in a year, they'll get wrecked really hard if they don't use Bitcoin or another long-term store of value.

Hopefully, their life will be better later on.

I think that might just be the beginning. There is much to suggest that the world is at the end of a cycle of strong economic recovery. This will be felt by the industrialized nations, but above all by the emerging markets. Economic turbulence always means devaluation of the respective Fiat currencies. Alternatives like gold are hard to get and keep. That's why much speaks for Bitcoin in such times.