Candidate in the 2024 elections, former federal deputy declared that he bought bitcoin for R$25 thousand, but today his assets have already appreciated by more than 400%.
Former federal deputy Daniel Pires Coelho, candidate for mayor of Recife in the 2024 elections. Photo: Michel Jesus/Chamber of Deputies.
Running for the Social Democratic Party (PSD), Daniel Pires Coelho is a candidate for mayor of Recife in the 2024 elections, who drew attention for his declared assets in bitcoin.
Using data from the Superior Electoral Court, Livecoins found that Daniel currently has R$128,000 in Bitcoin. However, his total declared assets are R$962,000, meaning 13% of what he has is in BTC.
With a history as a city councilor in Recife and State and Federal Deputy for Pernambuco, the politician has served in several parties. Apparently, he is now running for the coalition “Recife Levada a Sério”, with the support of the parties PP / PODE / Federação PSDB CIDADANIA (PSDB/CIDADANIA) / PSD / PRD / MOBILIZA.
His main opponent in the race is João Henrique Campos, son of former governor Eduardo Campos, currently supported by President Lula and who is seeking reelection.$
Recife mayoral candidate made absurd profits from bitcoin assets
Supported by the party of the current Governor of Pernambuco, Raquel Lyra, from the PSDB, Daniel Coelho was the current Secretary of Tourism and Leisure of the northeastern state, until June 2024.
But what caught the attention of bitcoin investors was that he bought R$25,000 in BTC, which is now worth R$128,000. In other words, with a profit of 412% since his purchase, bitcoin now accounts for 13% of his declared assets.
Daniel Coelho declared bitcoin to the TSE in 2024, when he runs for mayor of Recife in the 2024 elections. Source: TSE.
Daniel Coelho has not yet publicly commented on bitcoin. Furthermore, in his government proposal presented in early August, he does not mention the digital currency at any point. In other words, it is not clear whether he has any plans to implement anything new with the digital currency, should he be successful in his electoral campaign.
In the past, he ran for mayor of Recife for the PSDB in 2012 and 2016, but was unsuccessful. In 2022, he also failed to be reelected as federal deputy for the state of Pernambuco, but is now back in the political game.
Politician was present at the approval of the Cryptocurrency Framework in Brazil
In Brazil, bitcoin has emerged as a debate in the political class in recent years. Much of its appearance occurred due to the fact that Law 14.478/2022 was under discussion in the National Congress.
On November 29, 2022, Daniel Coelho was still a federal deputy for Cidadania, and was present at the approval of the so-called Cryptocurrency Framework. After that, the document was sent for presidential sanction by then-president Jair Bolsonaro.
Daneil Coelho was present in the Chamber of Deputies Plenary when the Cryptocurrency Framework was approved, on November 29, 2022. Source: Chamber of Deputies.
In other words, the politician is familiar with the subject and has already had to take a public stance on cryptocurrencies, in addition to being an investor. Even so, it is still unclear whether he will address the topic in debates for the future of Recife, an important capital for Brazil due to its contribution to culture and technology, among others.
