Despite a “cryptocurrency winter” accompanied by low prices and a decline in market activity, the number of companies with cryptocurrency assets continues to grow in Brazil, the largest country in South America, Cointelegraph reports.
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Brazil’s Revenue Service reported that more than 12,000 companies in the country reported holding cryptocurrency assets in August. This number has increased by 6.1% since July. The most popular cryptocurrencies are “Bitcoin“and the stablecoin” Tether “.
However, the Revenue Service confirmed that the number of individual cryptocurrency holders has decreased. Therefore, it can be concluded that companies appreciate its potential, while individuals fear losing their savings and transfer money to safer resources.
In Brazil, inflation hit a 26-year high in April when it crossed the 12% mark, but has now started to slow to 8%. So, as experts predict, the number of people investing in risky cryptocurrencies in the country may soon start to rise again.
