Brazil Reports Record 3.3 Million Crypto Users In June As Bitcoin Adoption Surges

Brazil, the South American juggernaut, has solidified its position as a global leader in cryptocurrency adoption during June, with an impressive surge in both individual and corporate usage of bitcoin (BTC) and other digital assets. Recent data released by the Brazilian government highlights the nation’s robust adoption of cryptocurrencies, boosting its reputation as a thriving hub for crypto enthusiasts and companies alike.

Latest Data Shows Rise In Crypto Adoption

According to the latest report compiled by the Federal Revenue Service (FRB), June witnessed a remarkable engagement with cryptocurrencies in Brazil, as more than 3.2 million individuals and over 89,000 registered Brazilian businesses actively participated in crypto-related operations. The data demonstrates a staggering increase in crypto adoption, showcasing Brazil’s strong foothold in the evolving digital financial landscape.

The pinnacle of this adoption wave is the striking number of individual cryptocurrency users in June, which reached an unprecedented 3,217,633 – a historic all-time high that marks a 60% surge from just over four months prior. By April, Brazil had witnessed 2,016,684 individuals engaging with cryptocurrencies, as reported by the country’s tax agency. This surge also reverberated in the corporate world, as the number of registered companies using crypto assets hit a new record of 89,096, marking a 6% increase from May’s figures of 83,851 entities.

Bitcoin price is currently trading below $30,000. Source @Tradingview

The FRB indicates that these combined surges contribute to a monumental count of more than 3.3 million Brazilian bitcoin and cryptocurrency users solely within the month of June – a level of adoption not observed since 2019 when the pioneering 1888 cryptocurrency regulation came into effect.

Taking a broader view of cryptocurrency adoption, sta

Go to Source to See Full Article
Author: Olowoporoku Adeniyi

Did you like this?
Tip BTC Newswire with Cryptocurrency