Brazilian citizens have invested over $10 billion in crypto assets in 2024, according to data released by the Central Bank of Brazil. From January to July, the balance of payments recorded $10.788 billion in cryptocurrency purchases, far exceeding the $792 million in sales, resulting in a net outflow of $9.997 billion. This surpasses the net outflow of $5.921 billion recorded in the first seven months of 2023, indicating a significant increase in crypto adoption in Brazil. The surge in investment is likely due to a combination of factors, including increasing awareness of cryptocurrencies, the search for alternative investment opportunities, and the broader adoption of digital assets globally.
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