The lockdown and the crisis accentuated by the expansion of COVID-19 sparked the interest of many users and companies in cryptocurrencies and digital assets, whose investment has doubled in Latin America since November of last year.
Comscore, an Internet marketing data analysis and research firm, notes that there is a genuine interest in cryptocurrencies and digital assets, which has increased following the global expansion of the COVID-19 pandemic.
The company applied a study, focusing mainly on Latin America, where the changes that technology is bringing are already beginning to be perceived. blockchain and cryptocurrencies, have brought to the world. In this region, investments in crypto assets doubled in less than 3 months, counting from November 2020, Comscore points out. Thus, the data collected by the firm indicate that several Latin American countries registered a growth of more than 100% in digital investments, between the months of November 2020 and February 2021.
Source: Comscore
Of all the countries analyzed by Comscore, Colombia y Argentina are the ones that stand out in terms of growth in crypto investments. According to the graph, Colombia had a peak between January and February, while Argentina shows sustained growth in cryptocurrency investments. Mexico y Peru There was also a sustained, albeit milder, increase; while in Brazil y Chile There was a slight drop in this type of digital investments by the end of February.
Comscore's study reveals that Latin American citizens, as well as companies, have been buying cryptocurrencies and digital assets amid the economic crisis accelerated by the arrival of the pandemic and the monetary measures implemented by governments around the world.
It may interest you: Mercado Libre follows the mainstream of MicroStrategy, Tesla and Square, and buys Bitcoin
Latin America: A society active in the crypto world
Comscore notes that Latin America has one of the most active and committed communities in the technological developments that drive cryptocurrencies and digital assets. According to the firm, the Latin American crypto community is constantly analyzing market volatility, sharing data, information and opinions through social media.
For the month of April, the world's main social networks recorded nearly 95.000 mentions cryptocurrency related, exchanges and exchange platforms for digital assets, only of Latin American users, who used Twitter as the preferred social network to share about cryptocurrencies.
Nearly 90% of the 95.000 crypto mentions were made via Twitter, which shows a 30% increase compared to March figures.
Entering the financial universe of cryptocurrencies
Cryptocurrencies have been booming for several years, although they are currently capturing the interest of more than just users. Large companies and businesses are also increasingly interested in entering and participating in the financial universe offered by cryptocurrencies and digital assets.
In Latin America, Free market y Globant They are two of the Argentine and Latin American unicorns that entered the world of Bitcoin, with multimillion-dollar investments in this cryptocurrency, seen as a safe haven and store of value for the future. In Brazil, regulators approved the creation of the first ETF for Bitcoin in the country and in the region; in addition, Brazil is also evaluating the development of a central bank digital currency CBDC for its national economy.
This is just a small sample of how Latin America has joined the cryptocurrency trend, which reveals that its boom is far from over, but rather that it will continue to grow in the future, since many Latin countries are aware of the benefits that these digital assets bring to their societies.
Continue reading: Globant, the Argentine unicorn, bought $500.000 worth of Bitcoin during the first quarter
