Bitso: Bitcoin Dominates 53% of Investment Portfolios in Latin America

Bitso: Bitcoin Dominates 53% of Investment Portfolios in Latin America


Bitcoin Dominates Latin American Portfolios: Bitso Report

A recent report by crypto exchange platform Bitso has revealed that Bitcoin (BTC) makes up 53% of user portfolios in Latin America. According to the report, Bitcoin represented over half of clients’ portfolios in the region by the end of 2023.

Bitso: Bitcoin Dominates 53% of Investment Portfolios in Latin America
Source: Bitso

Shifting to Cryptos Amid Economic Turbulence

In response to economic instability, countries in Latin America are increasingly turning to cryptocurrencies as a lifeline. Brazil leads the way with 58% of total holdings in Bitcoin, although altcoins make up the most diverse crypto portfolios.

Mexico sees Bitcoin as the preferred cryptocurrency for 40% of purchases, while XRP also holds a significant presence due to international transfers.

Rise of Female Crypto Adoption

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The report highlights the growing participation of women in the crypto space, especially among older age groups. In Latin America, 44% of female crypto adopters are aged 65 and above. Colombia and Brazil have the highest number of women using the platform, with Colombia accounting for 33% and Brazil at 31%.

In Mexico, women accounted for 37% of Bitcoin purchases made with Mexican Pesos during the second half of 2023.

Long-Term Holders Trust the Crypto Ecosystem

Data suggests that long-term crypto holders in Latin America continue to hold their digital assets, indicating their trust in the ecosystem’s future growth. These investors are waiting for a new “crypto summer” and believe that the market will thrive.

Argentinians Favor Digital Dollars over Bitcoin

Bitso’s report reveals that digital dollars like USDC and USDT are among the fastest-growing cryptos in Argentina. Stablecoins make up 26% of the average portfolio of Argentinian users, driven by the country’s high inflation rate of 211.4% in 2023. This economic environment incentivizes consumers to seek more stable options to protect their money from devaluation.

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In Argentina, digital dollar acquisitions exceed those of other cryptocurrencies, with 60% of total purchases compared to 13% for Bitcoin.

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