The Documented Story of a Brazilian Crypto Investor Buying Bitcoin (BTC) at Over $19,000
An investor in Brazil reportedly paid over 6 times the current price of Bitcoin. He bought 0.0047 BTC for 340 Brazilian reals, which equals to about $91. However, this was actually worth less than $15. What’s interesting is that he paid the price of about $19,400 per Bitcoin which equals its all-time high. The trade was made at Brazilian crypto exchange TeamBTC.
One possible explanation for this happened is that the user has made a large market buy order that, due to the exchange's lack of liquidity, eventually reached very high values. TemBTC founder Renato Abreu said that he was probably someone with little knowledge and who carried out the order to market.
Even though this was a nightmare for the investor, but we can be happy seeing large buy orders. Order books have been collapsing recently due to a large buy order, but the trend is expected to change in the near future.
TeamBTC was recently acquired by Bitcoin Banco Group. Valid for customers of the exchanges and physical agencies of Bitcoin Banco in Curitiba and São Paulo, the new adhesion will allow the purchase, sale, and application of different digital currencies – values in both crypto and real – without the need for a system traditional banking system.
The crypto ecosystem in Brazil has been recently growing swiftly, despite the fact that their banks and regulators have been pushing back significantly. It might be because of the growing economic and political crisis in Venezuela, which has sent most of the South American countries following the same trend.