4 ms·
The following paragraph is wrong, in that it is misleading and correlates things that have not happened at the same time. > The case also underscores the fast-
by gota 5y ago
The following paragraph is wrong, in that it is misleading and correlates things that have not happened at the same time.
> The case also underscores the fast-growing appetite for cryptocurrencies in Brazil, where years of economic and political crises have made digital currencies an attractive shield against depreciation of the Brazilian real and double-digit inflation.
Adoption of bitcoin in Brazil was highest from 2015 through 2017. It has not grown significantly in recent years hampered by the energy costs rising and killing mining operations. At the time inflation was not 2 digits. It was only 2 digits in 2021, because of the pandemic (mostly). The Real has also has only significantly depreciated since the pandemic, having kept a somewhat stable value of 0.25 USD for the previous 5 years.