This week saw the start of the Miami Bitcoin Conference. Thousands of individuals have flocked to the city’s streets and neighboring businesses to learn everything they can about the rapidly increasing digital asset field and to predict what changes will occur in the future.
Growing crypto roots in Miami
One of the key reasons why so many software companies have flocked to Miami in recent years is because the city remained open throughout the COVID outbreak. In the eyes of those trying to bring new businesses into the mix, this made it an appealing, business-friendly location.
John Bartleman, CEO of multi-asset broker Trade Station, was one of these individuals. He made the following observation:
“It’s difficult to deny that this is a fantastic chance for businesses to come here and build out their crypto projects.”
During the meeting, Bartleman and his executive team witnessed for the first time an 11-foot robot-like statue of a bull that they had commissioned months before being shown to the public. The bull was inspired by the famous bull statue on Wall Street in New York, but it now represents the growing crypto industry and the threats it poses to traditional investing products.
Miami has a lot of competitors
Miami has always been one of the most welcoming places for Bitcoin and other cryptocurrencies. Francis Suarez, the mayor of Miami, was one of the first politicians to take bitcoin as a form of payment not long ago. He’s also created a new digital currency designed particularly for Miami locals, which will allow them to earn staking interest and pay utility bills.
At the same time, Miami is likely to face stiff competition from cities such as New York City, which has so far topped the list of places to invest in new blockchain firms. A total of $6.5 billion has been raised by blockchain and crypto startups in New York City. In comparison, blockchain startups in Miami have only raised $760 million as of press time.
Eric Adams, the mayor of New York City, is a crypto enthusiast who has taken many bitcoin and Ethereum paychecks. He has also claimed that he wants crypto and blockchain to be taught in public schools to educate youngsters about future payment methods and technologies.
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