Following the lead of El Salvador, it's close by neighbor Brazil might soon be using Bitcoin as a currency. That's according to a federal deputy who said that Brazilians will soon be able to buy houses, cars, and even McDonald's with Bitcoin. So will Bitcoin become legal tender in Brazil? Let's go ahead and talk about it. What's up Jay here and welcome to Bitcoin. Daily bringing you guys the best tips, tutorials, and ideas to help you guys become profitable and successful investors. The goal of this channel is to empower the community with the knowledge and resources to take your wealth up to that next level. So if you're new to the channel, make sure to subscribe, turn on the notifications, and if you enjoyed this video, make sure to smash that like button. So bill 2.30315 which regulates cryptocurrencies might approve the legal use of Bitcoin similar to El Salvador. Statements given by Oreo Rebito, I think it's how he says name, who is a federal deputy said that the approval of this bill which regulates cryptocurrencies, new uses would be open for crypto holders such as buying houses, cars, and even food in restaurants like McDonald's. These comments are the product of the approval of the so called Brazilian Bitcoin law for presentation in the plenary of the chamber of deputies after being stuck in development for years. He also said that this law could be used for other countries wishing to also regulate the digital assets saying that its text is innovative. One of the main things that this law is trying to control is the Ponzi schemes as there have been multiple Ponzi schemes going on this year. So although it currently faces the hurdle of having to be passed by the chamber of deputies, the federal deputy said that the law had a lot of support in the government. A recent survey conducted by Sherlock Communications found that almost half of its respondents believed that Bitcoin should be legal tender. The study questioned over 2700 people over the age of 18 in seven different Latin America countries including Brazil. It found that 48% of Brazilians agree that Bitcoin should be legal tender. Brazilians were the biggest supporters recognizing Bitcoin in its region with 56% supporting El Salvador's move and 48% saying that they want Brazil to follow in its path as well. So of course this would be another huge catalyst for Bitcoin that could take it to its next levels and this combined with some of the other possible catalysts in news and technical analysis and fundamentals that are currently happening in the Bitcoin space could definitely take Bitcoin to new all time highs by the end of this year. If you guys enjoyed this video go ahead and smash that like button. Make sure that if you guys are new to the channel to also subscribe and turn on the notifications. I'll see you guys on the next one. As always, peace and love.