Every year millions of people go to the Rio Carnival from across the world to experience and celebrate this Brazilian tradition. This year as we are going to see in today’s bitcoin news, the carnival will feature the number one cryptocurrency-Bitcoin.
The Samba school parade is what stands at the heart of the carnival where multiple organizations create their own theme and express it by dancing and playing music. The popular Samba School of Rio De Janeiro Imperatiriz Leopoldinense will feature Bitcoin within their money themed parade and will perform their act at one of the most popular places in Rio Marquês de Sapucaí Sambódromo.
The samba act is named ‘’Give me some money’’ which shows how people see money and their relationship over the time, according to their website. The school of samba was first created in 1956 and has won multiple championships in the past.
The crypto news outlet Portal Do Bitcoin in Brazil reports that the Empress will show the poor and rich poetically and their lives in the different communities. The school of samba explained:
“Any value materialized in our currencies, banknotes, checks and cards will lose its meaning for virtual money? Let’s get used to not picking them up? Let’s understand that money is just an idea? What will virtual currency do to our consumer society? Will it be able to transform our relationship with value concepts? The future will tell us.’’
Brazil is going through rough times economically speaking and the decision of the school to make Bitcoin and money in the center of attention is on point despite many people criticizing it.
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“[Bitcoin’s] performance has, until recently, been remarkable, but its purpose as an investment seems quite different from gold. Cryptocurrencies have yet to be tested in multiple markets," the WGC concluded.
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“I … hope that our investment in regulatory and market education, hard work and commitment will be honored when the time comes.”Matt Hougan also commented the situation and told CoinDesk that the crypto ecosystem is "evolving very rapidly" which may result in getting a product launched. As he said:
“A year ago there was maybe one qualified crypto custodian … and now there are half-a-dozen, and that number will go up from here,” he noted as one example. A little more than year ago, we didn’t have futures. A year ago we didn’t have nearly as many firms making markets. A few months ago, you didn’t have folks like Fidelity announced in the space. It’s evolving really, really quickly.”At the end of the day, however, a Bitcoin ETF approval will depend on how companies approach their proposals.
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