Bitcoin

This election occurs amid a global shift toward populist politics and comes as Brazil's central bank has been one of the more crypto-friendly regulators in the region. A Bolsonaro victory could accelerate pro-market reforms and crypto adoption, while a Lula win might maintain the current regulatory trajectory but with increased social spending that could pressure the real.

Brazil's presidential election will be decided in a runoff between Flavio Bolsonaro and incumbent Luiz Inacio Lula da Silva after no candidate won a majority.