Brazil’s second most populous city, Rio De Janeiro, is planning to allocate 1% of the city’s treasury reserves to cryptocurrencies, also exploring applying discounts to tax payments made with bitcoin.
The mayor of Rio de Janeiro, Brazil’s second-most populous city, reportedly announced last week he plans to allocate 1% of the city’s treasury reserves to cryptocurrencies. Bruno Ramos de Sousa, Head of Global Expansion at Brazilian crypto asset manager Hashdex, shares insights into what this could mean for bitcoin adoption in Brazil.
Bitcoin’s price could continue to fall as the “death cross” pattern looms on its daily charts by some estimates. “All About Bitcoin” discusses BTC’s possible outcomes next week and short-term signals to watch.