Will Mayor Suarez’s Miami Be the First Main Metropolis to Purchase Bitcoin?
The entrepreneurial mayor brings his recruitment of tech talent to the crypto space with the potential of a 1% investment of the city’s reserves into BTC.
This episode is sponsored by Nexo.io.
Today on the Brief:
- Initial jobless claims grow the most since March
- Biden unveils emergency relief plan
- Fed Chair Powell discusses CBDCs and stablecoins
Our main discussion: Is Miami about to put 1% of its treasury into bitcoin?
Since December 2020 there has been a lot of conversation about whether Miami could become the next Silicon Valley, or at least recruit a big swath of entrepreneurial talent to set up shop.
In this episode, NLW looks at how that discussion moved into the crypto realm and led to Mayor Suarez’s recent discussions about moving Miami’s treasury into bitcoin. He argues that the story is about the larger shifts in how cities and geographic regions compete for supremacy in the social media, remote work era.
See also: Miami Mayor ‘Exploring’ Ideas in Crypto Governance
Image credit: Joe Raedle/Getty Images News