Purchases of cryptocurrency made abroad have surged in Brazil this year, surpassing the numbers registered in 2023. The Central Bank of Brazil reported that these purchases, considered imports, have reached $12.37 billion year-to-date, exceeding the total crypto purchases of 2023. This indicates a growing demand for digital assets in the country. The increase in demand has also led platforms to purchase more crypto to offer their users. However, this has created a deficit of $11.54 billion in 2024, as cryptocurrency imports surpass exports, which is unlikely to be resolved soon due to unfavorable mining conditions in Brazil. The popularity of cryptocurrencies in Brazil is evident, with recent polls showing the country as one of the top 10 nations in terms of cryptocurrency ownership.



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