Bitcoin surpasses gold trading in Brazil

posted over 2 years ago
During the first six months of 2016, bitcoin trading volume on Brazilian crypto exchanges surpassed that of gold spot trading on the Brazilian Securities, Commodities and Futures Exchange (BM&F BOVESPA). In this period, over R$ 164 million (~US$47 mi) were traded on the specialized exchanges, while gold spot contracts (for 250 g and 10 g equivalent bars) registered around R$153 million (~US$44 mi). In June, bitcoin trading volume was twice the precious metal volume.

This unprecedented and historic milestone confirms the strong growth the cryptocurrency has had in Brazil. According to website bitValor.com, June’s year-to-date bitcoin volume exceeds by 45% its entire trading volume in 2015, when local exchanges reported R$ 113 million worth of transactions. This year’s first semester is commensurate to the last three years combined.
Tags: bitcoin, news