The first Brazilian Bitcoin conference titled "I BitConf" took place in Florianópolis. This event has been very successful bringing people together from many states of Brazil and Argentina. BitConf is an initiative started by the Brazilian Facebook community and other Bitcoin group sites.
After the end of the first conference, the organizing committee organized two further events with larger scale. These conferences still focus on issues surrounding digital money and focus primarily on Brazil and Argentina. However, they also extend to other countries, such as the US, China and Russia.
The benefits of Bitcoin are becoming well known in Brazil, Argentina, Venezuela and Latin America. Many Latin American countries are suffering from a prolonged recession and rising inflation. In particular, Venezuela's inflation rate has reached 720% over the years and this is the same with its neighbors. Quite a lot of people from these areas now want to participate in the decentralized economy, Bitcoin.

Many believe that Latin American countries such as Brazil and Argentina are fertile ground for Bitcoin. Currently, both countries are witnessing an exponential increase in the use of Bitcoin. By the end of 2015, Bitpay saw significant growth across Latin America trading volumes above 1,747%. "Latin America is proving to be an extremely favorable environment for Bitcoin," Bitpay said. Because there is a large percentage of the population with little or no access to traditional financial services. "