CryptoTwitter: Ethereum פופולרי בצרפת, Bitcoin בברזיל

Twitter users have grasped the cryptosphere trends that exist on the web. According to Alistair Milne, a Bitcoin investor, Ethereum reigned supreme on French Twitter. 

In turn, Neto Guarachi, a Brazilian journalist, said that Bitcoin has been trending in the Brazilian segment of the social network for several weeks. This topic has become central to the cryptosphere in Brazil. Twitter users have posted over 122,000 tweets.

 

 

The reason Bitcoin has received so much attention in Brazil is because of the accelerating inflation, and the high prices of food which keeps rising.

The overall price increase was 15 percent with some products prices rising higher. For example, milk rose by ⅓ and rice by almost 41 percent.

The acceleration of the inflation rate was promoted by the Brazilian Central Bank. In 2020, the Bank printed trillions of reais with the deficit of funds approaching one hundred percent of the country's GDP.

The Government made no attempt to cut spending and stimulate the economy. Therefore, it is not surprising that Bitcoin is thriving in Brazil.

BTC exchange volumes are also at a critically high level. The number of crypto funds has increased in the country, and the price of Bitcoin in Brazilian real (BRL) soared by more than 475% in 2020.

The Brazilian Government has a positive attitude towards the crypto space. Interest in Bitcoin, which began in Venezuela, can now spread to one of the largest economies in the world.