Crypto Landscape In Latin America
Bitso’s second crypto landscape report is available, covering the 1st semester of 2024.
In April 2024, Bitso celebrated its tenth anniversary, marking a decade of growth and transformation in the cryptocurrency industry. Over the past ten years, Bitcoin evolved from a niche interest to a mainstream topic, even entering political discourse in the United States. Bitso has witnessed significant crypto adoption in Latin America, particularly in Mexico, Argentina, Brazil, and Colombia, and has contributed to projects that demonstrate crypto’s transformative value for both individuals and institutions. The first half of 2024 saw notable developments, including the launch of a Bitcoin exchange-traded fund (ETF), which contributed to Bitcoin reaching an all-time high of $73,750 in March. Bitcoin’s dominance remains strong, comprising 53% of Bitso’s client portfolios, closely aligning with its global market share.
Additionally, the introduction of Ethereum and Solana ETFs highlights the ongoing evolution and growth potential of these ecosystems. Ethereum continues to be a dynamic and innovative force in the crypto space, while Solana is gaining attention for its scalability and performance, particularly in Latin America, where its presence in client portfolios has risen above the global average. While Bitcoin and Ether dominate the crypto landscape, the significance of other altcoins, meme coins, and the emerging role of artificial intelligence in the industry should not be overlooked, as AI is expected to introduce new and unexpected use cases in the near future.
