A Brazilian investment company just innovated by promising “free Bitcoin” for participants willing to learn more about investments and cryptocurrency assets.
The program was created by Empiricus Research, the country’s largest independent investment research firm.
Going by the name of “Auxílio Bitcoin” (Portuguese for “Bitcoin assistance”), was inspired by Brazil’s government poverty assistance programs and promises to turn thousands of people into potential investors.
The company states that it aims to “battle poverty”, and also to share financial knowledge, making it possible for Brazilians to invest in a market with high potential for profit, and better their economical lives.
Empiricus will be “giving out” 0.011 BTC for participants. That amount equates to 120 Brazilian Reais (roughly $22,00).
“One of the biggest barriers for people looking to start investing in Bitcoin and other cryptocurrencies is risking their own money,” Vinícius Bazan, Empiricus’ head of the intelligence department wrote in a statement. “For this reason, we decided to offer this ‘little push’ for the newbie investors.”
Bazan also wrote about how the cryptocurrency market is currently in a uniquely favorable moment for new investors. The head of intelligence for Empiricus believes that despite bitcoin being on a downward trend for most of 2022, the world’s largest cryptocurrency has the potential to grow exponentially in value in the following years.
The Brazilian firm is not the only one to believe that, recently CryptoCoinOpps reported about how the Cryptocurrency Analysis company Matrixreport believes that Bitcoin has the chance of reaching over $60k ahead of the 2024’s halving.
Obviously, There is a Catch
Brazil is a country with over 200 million habitants. That means that if every citizen decides to jump in the free money, Empiricus would need to give out over $4 billion dollars in BTC, making it one of the biggest private assistance programs in the history of the world.
While it is true that the company deposits the 0.011 BTC on request – in order to actually access that money, users need to sign up for one of Empiricus’ investment courses.
Empiricus requires that the investor become a member of the “Crypto Legacy” course series, during which he will learn how to invest in cryptocurrencies and will also get the house’s top recommendations.
The course in question is not free. It costs slightly less than the “bitcoin assistance” purse. Meaning that in the end, users will still walk away with some money.