27 Sep '15, 5am

Bitcoin Fever Spreads Across Brazil - Brave New Coin

Brazil's economic difficulties aren't quite on par with those of troubled neighbors Venezuela and Argentina, however, it isn't that far behind. According to data from the country's national statistics office (IBGE), consumer price inflation in Brazil has hit record high of 9.57 percent, as measured by Brazil's IPCA index. These high inflation rates greatly decrease the purchasing power of the Brazilian currency, the Real. Brave New Coin spoke with Fábio Anjos, co-founder of Brazilian Bitcoin Education startup Rexbit , who anticipates the economic situation in Brazil to worsen over the next 12 months. A true believer in Bitcoin, Anjos believes that people will use it to protect their money only when the national currency is being devalued on a more frequent basis, such as daily. “People will discover Bitcoin when the situation becomes critical,” said Anjos, comparing his na...

Full article: http://bravenewcoin.com/news/bitcoin-fever-spreads-across...

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