Jump to content
The World News Media

Rio de Janeiro’s Mayor to Invest 1% of The City’s Treasury in Bitcoin


Mic Drop
 Share

Recommended Posts

  • Member

Rio de Janeiro’s Mayor Eduardo Paes presented his plans at Rio Innovation Week as he discussed the subject in a lecture with the bitcoin-loving mayor of Miami – Francis Suarez.

“We are going to launch Crypto Rio and invest 1% of the Treasury in bitcoin,” Paes said.

The 52-year-old member of Brazil’s Social Democratic Party praised Suarez’s efforts to transform Miami into a cryptocurrency hub. The latter previously said he is open to exploring the idea of putting 1% of his city’s Treasury reserves in bitcoin.

While Miami has positioned itself as the cryptocurrency center of the USA, Rio aims to become the South American hub for the digital asset industry, Paes asserted:

“Rio de Janeiro has everything it takes to become the tech capital of South America. Events like the Rio Innovation Week come to strengthen the city’s image as the perfect place to work, live, and innovate.”

The possible bitcoin adoption is considered a massive step for the development of the primary cryptocurrency since Rio de Janeiro is the financial heart of Brazil. Its economy is also one of the largest in the Latin American region and among the fastest-growing globally.

https://cryptopotato.com/rio-de-janeiros-mayor-to-invest-1-of-the-citys-treasury-in-bitcoin/

Link to comment
Share on other sites


  • Views 342
  • Replies 0
  • Created
  • Last Reply

Top Posters In This Topic

Popular Days

Top Posters In This Topic

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
 Share





×
×
  • Create New...

Important Information

Terms of Service Confirmation Terms of Use Privacy Policy Guidelines We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.