Will Mayor Suarez’s Miami Be the First Major City to Buy Bitcoin?

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The entrepreneurial mayor is bringing his tech talent recruiting into the crypto space with the potential of a 1% investment of the city’s reserves in BTC.

This episode is sponsored by Nexo.io.

Today on the letter:

  • The first unemployment claims have increased the most since March
  • Biden reveals emergency plan
  • Fed Chairman Powell discusses CBDCs and stablecoins

Our main discussion: will Miami put 1% of its treasury in Bitcoin?

Much has been said since December 2020 about whether Miami could become the next Silicon Valley, or at least attract a large amount of entrepreneurial talent to start a business.

In this episode, NLW examines how that discussion shifted into the crypto space, leading to Mayor Suarez’s recent discussions about moving Miami’s treasury to bitcoin. He argues that the story is about the major changes in the competition between cities and geographic regions for supremacy in the era of social media and remote working.

See also: Miami Mayor ‘Exploring’ Ideas in Crypto Governance

Photo credit: Joe Raedle / Getty Images News