Brazil, Russia, India, China and South Africa make up the BRICS countries. BRICS is the acronym for an association of five major emerging national economies.
The BRICS members are all leading developing or newly industrialized countries, but they are distinguished by their large, sometimes fast-growing economies and significant influence on regional affairs; all five are G-20 members. Since 2009, the BRICS nations have met annually at formal summits. China will host the 9th BRICS summit in Xiamen on September 3rd, 4th and 5th, 2017. Wikipedia
The local currency in the BRICS can be unpredictable and often volatile. In each of these countries, Bitcoin adoption has been growing steadily.
Bitcoin is a natural hedge against Fiat currency. Investing in Bitcoin gives best returns.
Below are graphs showing Bitcoin growth in value compared to each Fiat currency in the BRICS countries. Local Fiat currencies have devalued at differing rates while Bitcoin value has increased and continues an upward trend. Bear in mind that these calculations used the closing figure as stated by xe.com – prices in each country fluctuate dependent on demand. For example, during the demonetization process in India which started on 8 November 2016, the Bitcoin price reached over $1200 on exchanges while most countries were in the region of $700. Supply and Demand driving higher prices.
BRAZIL – Bitcoin price growth of 475%
RUSSIA – Bitcoin Price growth of 525%
INDIA – Bitcoin Price growth of 483%
CHINA – Bitcoin Price growth of 503%
SOUTH AFRICA – Bitcoin Price growth of 488%
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