Picture this: it’s 2015, and you live in Brazil.
You run a moderately successful business, but this year hasn’t been kind to your currency. The country has slipped into recession, and the Brazilian real has devalued by nearly 33% in just twelve months.
Every invoice denominated in dollars has become a gamble, and every shipment delayed at customs carries currency risks. But then you start hearing conversations, first quietly, then more openly, about alternatives. Some mention holding dollars. Others mention something more experimental: Bitcoin.
At the time, Bitcoin is still mostly associated with tech forums, online speculation, and a small group of enthusiasts. In Brazil, adoption is small and almost invisible in official statistics. But peer-to-peer trading volumes are beginning to tick upward. People are using it to hedge funds, preserving value between purchase orders, and moving money without waiting on banks or navigating a volatile macro environment.
Crypto, in 2015 Brazil, isn’t mainstream. It isn’t regulated. And it certainly isn’t institutional. But it has entered the conversation. And that conversation, born out of economic stress, is quietly laying the groundwork for what Latin America’s crypto landscape will become over the next decade.
