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Author: Admin | 2025-04-28
Over 10 years (XE.com)Brazil Tops Bitcoin Search Results (2024)Techopedia’s infographics showed that in May 2023, Brazil overtook the U.S. for the number one spot in the list of the highest Bitcoin search volumes worldwide.Compared to its Latin American neighbors, Brazil has a mature crypto industry with a well-developed institutional crypto market and openness to using decentralized finance (DeFi) among crypto investors.The country’s eagerness to provide regulatory clarity to the crypto industry has created an environment for investors to embrace Bitcoin and altcoins in a safe manner.Lawmakers had even proposed to exempt federal taxes on the purchase of BTC mining equipment and software such as ASIC rigs in an attempt to attract more crypto companies to Brazil. However, the proposal was not included in the landmark crypto bill passed in December 2022.According to research firm Chainlysis, demand for Bitcoin is higher in Brazil than in Argentina, where stablecoins like USDT are preferred as a hedge against currency devaluation.Chainalysis said:“Meanwhile, Brazilians display a higher demand for Bitcoin and especially altcoins, which are more typically used for long-term investment and speculation.”Techopedia’s infographics showed Brazil topping Bitcoin search volumes in May 2024, ahead of the U.S., Germany, Turkey, and Spain.The Bottom LineThe Bitcoin search volumes highlight crypto hotbeds like Brazil, Turkey, The Netherlands, and other regions that are not mentioned by the mainstream media as frequently as the US, South Korea, and El Salvador.Readers also have to remember that regions like China, where Google’s search engine is banned, were not included in the infographics.Another notable absentee was South Korea — a region where crypto is immensely popular among retail investors — due to Naver’s search engine attracting nearly 58% of monthly active users in the East Asian nation.
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