The crypto winter seems not to have affected the interest of companies in crypto assets. In Brazil, the number of legal entities that declared investments in the market broke a record recently.
According to a data survey by the Internal Revenue Service, by August 2022, 12,053 companies had invested in digital currencies. The report brings data on legal entities that moved over R$ 35.000 worth of crypto assets that month.
Compared to July 2022, there was a growth of almost 6% in the number of Brazilian companies investing in digital currencies. Before the record was reached in August, 11,360 legal entities had invested in crypto assets.
This number has been growing strongly over the past three years since the IRS began producing reports on crypto transactions in Brazil. In the first month of the report, 2,261 companies declared that they invested in digital assets in the country.
Although this number dropped between January and May 2020, the number of companies investing in crypto assets has been increasing considerably since then.
In January 2022, the number exceeded 10 thousand legal entities for the first time after reaching 11,794 that month. In just seven months, the assessment of companies investing in digital currencies has increased by 259.
Like companies, the number of crypto investors classified as individuals is also growing in Brazil. In July 2022, this number reached 1.3 million people investing in crypto assets in the country. As of August this year, the number reached 1,300,305.
In addition to the growth of individuals and corporate investors, the IRS report shows that BRZ was Brazil’s most traded crypto asset in September 2022. The data shows that more than R$ 22 million worth of the stablecoin was traded that month.