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The Brazilian tax authority RFB registered a new record in the number of Brazilians investing in crypto in the month of September. The institution informed through its monthly reports that almost 1.5 million people had bought crypto during September. The number of crypto investors in Brazil increased since August when a little more than 1.3 million people declared to own crypto.
Cryptocurrency is becoming increasingly popular as an investment choice for portfolios in Latam. The Brazilian tax authority RFB presented the figures corresponding to the cryptocurrency investments declared by taxpayers in the country on November 4, registering a new record in investors putting their money in crypto.
According to the statements of independent holders and local exchanges received by the institution, almost 1.5 million citizens invested in crypto during September. These 1,490,618 residents represent an increase of more than 10% compared to the number of taxpayers who declared holding crypto in August.
But the growth is even more impressive compared to the figures corresponding to September 2021, when only 424,524 cryptocurrency statements were received by the institution. this means that the number of cryptocurrency investors has more than tripled in one year, a sign of the popularity that crypto has achieved in the country.
While the market registered an increase in the number of declarations, the amounts declared during September were lower than those registered in August. The number of cryptocurrencies held reached levels not seen since August 2020. The report also informed that one in five transactions were conducted by women, a historic first for the country.
Continuing the trends that have been reported in previous months, bitcoin remains the cryptocurrency with the most transactions in the system, but Tether’s USDT, the dollar-pegged stablecoin, still records the largest volume of funds traded. More than two million bitcoin transactions were carried out during September, but USDT moved almost seven times more funds, albeit concentrated in a little more than 100,000 transactions.
Several options to take advantage of this popularity have emerged recently, with the aim of establishing tether as a viable payment and savings option in the country. This is the case with Smartpay, which announced that it will offer USDT services at more than 24,000 ATMs, allowing Brazilians to exchange the token for fiat currency.
What do you think about the numbers presented by the RFB on crypto? Tell us in the comments section below.
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