Rolante, a small town located in the south of Brazil, is embracing the adoption of Bitcoin. The initiative was sparked by Ricardo Stim, who proposed that the merchant association in Rolante start accepting Bitcoin payments. This move has made Rolante the largest Brazilian city and one of the largest in the world to accept Bitcoin.

Where is Rolante?

Rolante is a town in Brazil with a population of over 21,000 people. It is situated in the Rio Grande do Sul estate, bordering Argentina and Paraguay. The town covers an area of nearly 300 km² and is approximately an hour's drive from Porto Alegre, the capital of the estate. Rolante has a GDP per capita of R$34,884, which is equivalent to around $6,976.

Map of Brazil with Rolante marked in the south. Source: Wikipedia

Bitcoin Adoption in Rolante

To further promote Bitcoin adoption, Rolante recently hosted a 2-day Bitcoin festival where transactions totaling R$300,000 were made using Bitcoin. Currently, 40% of Rolante's merchants accept Bitcoin as payment, and even services and the health sector are beginning to follow suit. Merchants like Edson and Anderson Reichert have expressed their positive experiences with accepting Bitcoin as a means of payment.

Overall, the adoption of Bitcoin in Rolante aligns with the original vision of Bitcoin as a peer-to-peer electronic cash system, showcasing the real-world potential for cryptocurrency adoption. As of the latest report, Bitcoin was trading at approximately $70,000, maintaining this price level since March 26.

Source: The Bit Times