This is could be a much bigger news that it looks like right now in the near future. When you consider that Brazil is a member of BRICS and kind of a "leader" in South America since they can convince a bunch of other countries in South America to do the same specially because they have good economical relations amongst themselves.
In other words in the following year or two we could see a lot of other countries accept bitcoin as a legal payment method...
The drive to bitcoin adoption in Brazil and it used as method of payment feels like a way out for countries in BRICs since it will give the opportunity to pay in bitcoin, a way that has also been slightly followed by Russia since the Ukraine war. Maybe this is part of why Brazil is looking towards it. Hopefully this will drive China into lessing its own regulations on bitcoin since its the only Country that is left in BRICS, who still opposes it.
It will also aid the BRICS export of goods and raw materials and will hasten there plans of world biggest suppliers as it could be a general currency for trading
This must be the reason why there is a pump of BTC price in Brazil. I'm not from the country but I just read it on the telegram channel. More and more countries I think will come to recognize crypto. War against cash started long years ago but it's only now that it becomes very visible in economic trade while some countries prefer to recognize Digital Yuan.
Its quite a great news but I don't think it has an impact in the rise of bitcoin just yet. Bitcoin has been resurging right before the news was broke out