Bitcoin\'s popularity has exploded, and many people around the globe have rushed to invest in the tech. According to new reports, Brazil has seen a massive increase in interest in cryptocurrency investment among its residents. Official statistics show that in Brazil, a country which boasts the largest economy in Latin America, there are now twice as many investors trading in bitcoin as there are trading in stocks and shares.

Globo, a Brazilian media giant, reported that Brazil\'s three most popular bitcoin exchanges, where approximately 95% of the country\'s cryptocurrency transactions take place, listed over 1.4 million names on their registers in December. Currently, there are only 619,000 people registered on the stock exchange\'s B3.

The CEO of Mercado Bitcoin, Rodrigo Batista, who has seen his customer base grow 275% in 2017, has put its newfound popularity down to the barrage of interest in bitcoin that occurred late last year. The CEO of Brazil\'s Bitcoin to You, André Horta, has pointed to a drop in interest in other investors as being a key aspect of the Brazilian public\'s rush to invest in bitcoin.

The Brazilian cryptocurrency exchanges have experienced significant growth in response to the bitcoin boom, with the majority having had to invest in more efficient and complex IT services and a larger workforce.