Colombians show more interest towards cryptocurrencies
The Sherolck Communications agency conducted a study showing that the interest of Colombians in cryptocurrencies has increased by 208 %
The interest of Colombians in cryptocurrencies has increased significantly in 2022. This is demonstrated by the most recent study carried out by the marketing agency Sherolck Communications, which shows that 22.3 % of citizens expect to buy bitcoin this year. which represents a growth of 208% compared to 5.2 % that this interest had at the beginning of the year.
The interest has increased due to the relaxation of the regulatory environment for bitcoin and cryptocurrencies that the Financial Superintendence of Colombia (SFC) has been carrying out with a series of authorizations for the start of operations of various exchanges such as Bitso, Buda.com, Binance, Gemini and Panda, which are associated with specific banking entities to offer cryptocurrency trading services.
The Colombian crypto market has been experiencing some changes and transactions are increasing despite the regulations that some government entities are applying.
Mauricio Tovar, director of operations (COO) of Tropikus, hopes that the increase in “P2P transactions will continue, despite the recent regulatory attempts by the Financial Information and Analysis Unit (UIAF) that force exchanges to report operations by above a certain amount. Likewise, the National Tax and Customs Office of Colombia (DIAN) wants Colombians to report their operations in LocalBitcoins.”
Inflation will impact the Colombian crypto market
One of the factors that is impacting the growth of the cryptocurrency market in the country is the increase in inflation that has been registered in the Latin American region and particularly in Colombia during the first months of the year.
According to Tovar, the growth of inflation “will highlight the value that cryptocurrencies can provide. Inflation will be a problem that will lead people to learn to look for ways out, including cryptocurrencies.”
People are analyzing the alternatives to protect themselves from inflation and bitcoin and in general all decentralized finance is a very valid option to protect the income of citizens.
According to the director of operations Tropikus, inflation has its beginning in the printing of money by some countries to face the pandemic and the supply chain crisis. But with the war between Russia and Ukraine, the problem has worsened because the prices of fuel, raw materials and food have increased.
The increase in consumer prices (CPI) in Colombia reached 8.53 % in March 2022, the highest since the National Administrative Department of Statistics (DANE) began its records in 1975.
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