Lens1000
VIP Contributor
The mayor of Rio de Janeiro, Eduardo Paes, plans to invest 1% of the city's Treasury in bitcoin. If he goes through with it, the megacity will become the first in Brazil to buy the main cryptocurrency as a store of value.
Rio de Janeiro is expected to join the BTC bandwagon.
Mayor Eduardo Paes addressed his ambitions at Rio Innovation Week in a lecture with Miami Mayor Francis Suarez, who is a bitcoin enthusiast.
Suarez's efforts to make Miami into a bitcoin hub were lauded by the 52-year-old member of Brazil's Social Democratic Party. Previously, the latter stated that he is open to the notion of placing 1% of his city's Treasury reserves in bitcoin.
According to paes, Miami has established itself as the United States' cryptocurrency capital.
Rio de Janeiro is expected to join the BTC bandwagon.
Mayor Eduardo Paes addressed his ambitions at Rio Innovation Week in a lecture with Miami Mayor Francis Suarez, who is a bitcoin enthusiast.
Suarez's efforts to make Miami into a bitcoin hub were lauded by the 52-year-old member of Brazil's Social Democratic Party. Previously, the latter stated that he is open to the notion of placing 1% of his city's Treasury reserves in bitcoin.
According to paes, Miami has established itself as the United States' cryptocurrency capital.
