Bitcoin soars with cancellation of Lula's convictions at Lava Jato

Charlie Taylor

With Lula's convictions related to Lava Jato overturned by STF minister Edson Fachin, the former PT prisoner is again eligible and the markets react strongly. The Supreme Federal Court ruled that the Federal Court of Paraná was not competent to judge the Lula case in relation to the Guarujá triplex case, the Atibaia site and the case of donations to the Lula Institute. Social networks were divided in relation to the case , mainly in opinions related to the restoration of the former president's political rights and his possible election. The market, for its part, quickly reacted with investors protecting its equity in dollars, causing a 2% drop in the real against the foreign currency.A fall of approximately 2.12% of the real against the dollar on Monday. Source: TradingView. Bitcoin also shot up + 5.04% in Brazil compared to just 1.97% abroad. Bitcoin is trading at R $ 298,676.00 and is approaching another record with this new dollar boost, in some exchanges like Binance, FTX and Bitcoin Market the cryptocurrency has reached the 300 thousand mark. Bitcoin price in real is benefited by the high dollar, becoming another viable alternative to protect assets against the so-called 'Brazil risk'.

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Satoshi Nakamoto did not believe in politics

For economist Fernando Ulrich “Lula is already beginning to impoverish the Brazilian without even running for an election. See the strength of man. The market knows how to protect itself. No wage earners. ” Ulrich also said that Brazil is on its way to becoming Argentina. Political and social issues have always been involved in the debate over bitcoin and cryptocurrencies. Regarding politics, the creator of Bitcoin was hopeless, but he believed that new technologies like bitcoin could give a huge advantage in the fight for freedom for years.

Yes, (we will not find a solution to the political problems in cryptography), but we can win a big battle in the arms race and win a new territory of freedom for several years. Governments are good at cutting off the heads of a centrally controlled network like Napster, but pure P2P networks like Gnutella and Tor seem to be holding their own. – Bitcoin P2P e-cash paper.

Politicians in Brazil have a history of poorly managing the economy, Fernando Collor is the greatest example of this neglect with the confiscation of savings. Until 2009 the Brazilian did not have many alternatives to get rid of the state's confiscation power, but with bitcoin the scenario changes. We no longer need to trust politicians or their honesty and benevolence to obtain a good store of value.

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