Brazil is quickly becoming one of the biggest and friendliest cryptocurrency countries in the world. While some people may have a few problems with Brazil’s overall political perspective it goes without saying that they are doing a great job with how they are handling cryptocurrencies.
In fact, trading cryptocurrencies within the company is seen as perfectly acceptable, as various companies own small or big amounts of different cryptocurrencies. In fact, the most important thing about cryptocurrencies still remains how much you are holding, and the answer for these cryptocurrencies is a lot.
And as the number of companies that have invested in cryptocurrencies continues to rise, they are taking advantage of the opportunities that the market holds.
Brazilian Firms that Have Taken their Crypto Investments Seriously
Not only have Brazilian countries really started to understand cryptocurrencies and are buying accordingly, but the truth is that even more firms are joining this list. Therefore, companies that were having a hard time trying to choose if they should actually get cryptocurrencies are becoming more confident in their abilities and the market as a whole.
According to information gathered from Brazilian companies, there were over 11,360 firms during the month of July. Therefore, it is becoming apparent that companies believe in the crypto market enough that they are willing to take a chance on the market.
Furthermore, while the previous figure was impressive enough, there are still some companies that will often refrain from sharing that they have assets in certain types of cryptocurrencies. But even though they can lie about their holdings to most other firms that were conducting the study, they cannot lie to the tax authorities.
According to information from the tax authorities throughout the country, the figure for companies that hold some kind of crypto asset is actually as big as 12,053.
Bitcoin and Tether are the Most Popular Assets
Throughout the country, recent reports have shown that companies who have invested in cryptocurrencies will either choose Bitcoin or Tether as their main options. Both of these cryptocurrencies are relatively stable, especially Tether, which is significantly better for different types of companies that want a safer bet.
Bitcoin being the top pick is obviously not surprising, since it is most likely to bounce back no matter how rocky things will get.
Over 80,000 Transactions in a Single Month
One of the most impressive feats that companies in Brazil had managed to accomplish was the fact that they reached over $1.4 billion in transactions through a total of 80,000 transactions over the course of a month. Bitcoin did make it in second place, but as a whole, it was not very impressive, and given its size, it should’ve been in first place.