The Coin Shark: CryptoTwitter: Ethereum popular in France, Bitcoin in Brazil
CryptoTwitter: Ethereum popular in France, Bitcoin in Brazil?
Twitter users have grasped the cryptosphere trends that exist on the web. Ethereum reigned supreme on French Twitter, according to Alistair Milne, a bitcoin investor
In turn, Neto Guarachi, a Brazilian journalist, said that bitcoin has been trending in the Brazilian segment of the social network for several weeks. This topic has become central to the cryptosphere in Brazil. Twitter users have posted over 122,000 tweets.
The reason Bitcoin has received so much attention in Brazil is because of accelerating inflation. In the country, food prices are growing rapidly.
The overall price increase was 15 percent. Some products have risen in price much more. For example, milk by ⅓, rice by almost 41 percent.
The acceleration of the rate of inflation was promoted by the Brazilian Central Bank. In 2020, he printed trillions of reais. The deficit of funds approached one hundred percent of the country's GDP.
The government made no attempt to cut government spending and stimulate the economy. Therefore, it is not surprising that Bitcoin is thriving in Brazil.
BTC exchange volumes are also at a critically high level. The number of crypto funds has increased in the country, and the price of bitcoin in Brazilian real (BRL) soared by more than 475% in 2020.
The country's government has a positive attitude towards the crypto space. Interest in Bitcoin, which began in Venezuela, can now spread to one of the largest economies in the world.
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