More People in Brazil Own Crypto Than Stocks

[wry]

I thought this was particularly interesting!  The headline is about a leading stock broker (a firm that markets stocks to people) is going to open a crypto exchange.  But what makes the article especially interesting is that the firm really doesn't want to, it's being pushed to by Brazilians, 3 million or so who own Bitcoin, versus only 600,000 who own stocks!

I was shocked given how much push back I get from people on how Bitcoin is a scam and ponzi.  I guess Brazilians have seen their money get wiped out enough in inflationary spirals to realize that maybe it is the government with a printing press that is a real threat to their financial freedom and security than Satoshi!

If there is anyone from Brazil here I'd especially love to hear from you!

https://www.coindesk.com/brazils-largest-independent-broker-is-launching-a-crypto-exchange/

[skywallkee]

That's a pretty good turn around since as I knew, Brazil's banks tried harming cryptocurrency exchanges using the reason that "some exchanges don't have the client data required by law to prevent money laundering" and they just banned those accounts. Maybe this will help BTC raise even more

[wry]

Just now, skywallkee said:

That's a pretty good turn around since as I knew, Brazil's banks tried harming cryptocurrency exchanges using the reason that "some exchanges don't have the client data required by law to prevent money laundering" and they just banned those accounts. Maybe this will help BTC raise even more

Thanks @skywallkee!  I didn't know that the banks had been aggressive against the exchanges.  If that's the case, then this mainstream brokerage firm getting into crypto will really help.  Since there is clearly demand for BTC in Brazil, so many people already own it, it seems like this really may help the price and more importantly show the value of Bitcoin!

[skywallkee]

2 minutes ago, wry said:

Thanks @skywallkee!  I didn't know that the banks had been aggressive against the exchanges.  If that's the case, then this mainstream brokerage firm getting into crypto will really help.  Since there is clearly demand for BTC in Brazil, so many people already own it, it seems like this really may help the price and more importantly show the value of Bitcoin!

That's what I have read at least. I know that Brazil's Antitrust Watchdog made some investigations for this case and that was banks' excuse. I really don't know more as I don't speak Portugese to read articles that are more detailed 😢