Local governments look to benefit off Bitcoin boom

The cryptocurrency boom has led some local governments eager to cash in on the speculative asset’s boom.

While Bitcoin has been around since 2009, the latest Q1 2021 report from cryptocurrency exchange Coinbase posted $1.8 billion in revenue for the year so far, more than it brought for all of 2020.

The mayor of Miami, Francis Suarez, recently spoke publicly about his interest in Bitcoin during several interviews in which he detailed his vision to make it part of the city’s economic future, including petitioning for the state of Florida to allow a portion of Miami’s treasury funds to invest in Bitcoin.

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