Recife Mayoral Candidate Declares $128,000 in Bitcoin and Profits 412% from Cryptocurrency Investment
In a surprising revelation to the Electoral Court, mayoral candidate of Recife, Daniel Coelho (PSD), disclosed owning $128,606.42 in Bitcoin. According to his asset declaration, the politician invested $25,000 in BTC, achieving a remarkable 412% increase in value.
Bitcoin plays a significant role in Daniel Coelho’s total assets, as he declared a total of $962,830.55. This means that the leading cryptocurrency by market capitalization represents 13.3% of his wealth.
When broken down by asset types, Bitcoin comes second only to the candidate’s apartment, valued at $476,000. Following that is $66,484 in fixed-income investments such as CDB, RDB, and others, made through Bradesco.
Who is Daniel Coelho?
Daniel Coelho, a former Secretary of Tourism in Pernambuco, entered the electoral race with the support of Governor Raquel Lyra (PSDB).
In the 2022 general elections, Coelho ran for federal deputy under the Cidadania party but was not elected. At that time, his asset declaration only showed the purchase of $25,000 in Bitcoin, with total assets amounting to $838,894.32.
This indicates a significant growth in the candidate’s wealth, with almost all of it coming from the Bitcoin investment. The BTC investment yielded $103,000 over two years between declarations, accounting for 83% of the politician’s asset increase.
A Datafolha survey released on July 6th placed Coelho in third place in the race, with only 6% of voter intentions. The current mayor, João Campos (PSB), holds a commanding lead with 75% support.
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This story of the mayoral candidate from Recife declaring $128,000 in Bitcoin and earning a 412% profit from the cryptocurrency investment was first reported on Portal do Bitcoin.
