Brazil cryptocurrency investment reaches 29 million people

A national survey conducted by Datafolha and Paradigma reveals that approximately 29 million Brazilians, or 17.2% of the population over 16, have invested in cryptocurrencies. This marks an increase from 16% (25 million people) reported 15 months prior.

Cryptocurrencies have surpassed public bonds (CDBs), the US dollar, and stock market shares in terms of reach among Brazilian investors. While savings accounts remain the most popular investment at 57.1%, crypto now ranks fifth, ahead of stocks (7.4%) and gold (9.8%).

Public awareness of digital assets has also grown, with 66.4% of Brazilians stating they are familiar with cryptocurrencies. Bitcoin is the most recognized asset at 60.7%, followed by Ethereum at 11.1%. Interestingly, while Tether (USDT) accounts for 58.5% of the national trading volume, it is only recognized by 2.7% of the population.

Regarding accessibility, 83% of crypto investors used a traditional banking application to manage their assets. The survey also noted that crypto investment is not limited to the elite, as over 63% of investors earn between one and two minimum wages.