Nearly half of Brazil’s population wants the government to adopt Bitcoin, according to a survey performed by Sherlock Communications in collaboration with research platform Toluna.
According to Valor Investe, a local news outlet, 48% of Brazilians appear to be pro-Bitcoin. While 31% of respondents agreed with the notion of legalising Bitcoin, 17% said they strongly agreed.
Apart from Brazilians, persons from Argentina, Colombia, Costa Rica, El Salvador, Venezuela, and Mexico were polled for the study. “However, Brazilians were the most enthusiastic advocates of Bitcoin recognition in the region, with 56 percent backing El Salvador’s approach and 48 percent wanting Brazil to follow suit.”
When questioned about the state of cryptocurrencies in Brazil, 31% of respondents polled believed the country is making progress, while 35% claimed the South American country is still lagging behind other nations.
Meanwhile, 23% of respondents predicted that many more people will be exposed to Bitcoin in the future. Only 4% believe there is no future for it in Brazil.
The study also found that Brazilians buy Bitcoin mostly to diversify their portfolios, with more than half of those polled doing so. 39 percent of Brazilians say they buy Bitcoin and cryptocurrencies to protect themselves from inflation and economic instability, and 37% say they do so to stay up with technical trends.
Surprisingly, 92 percent of the entire number of people polled knew about Bitcoin, compared to only 31% who knew about Ethereum.