The Miami Bitcoin Conference began earlier this week. The city has seen thousands of people flood the streets and nearby businesses as they gather to learn all they can about the growing digital asset space and understand what kind of changes will be occurring later down the line.
Miami Sure Loves Its Crypto
Miami has long been one of the friendliest regions to BTC and cryptocurrency. Not long ago, the mayor of Miami – Francis Suarez – became one of the first politicians to accept his paychecks in bitcoin. In addition, he has commissioned a new digital currency specifically tailored to Miami residents that will allow them to earn staking interest and pay utility bills.
At the same time, Miami is arguably facing some serious competition from regions like New York City, which thus far holds the number one spot when it comes to funding for new blockchain startups. Blockchain and crypto companies in NYC have managed to raise a whopping $6.5 billion. Compare this number with blockchain companies in Miami, which have only raised $760 million at press time.
New York City also has a very crypto-friendly mayor in Eric Adams, who has accepted several paychecks in both bitcoin and Ethereum. He has also stated he wants crypto and blockchain taught in public schools so that children are prepared for the payment methods and technology of the future.
Not long ago, Miami became the new host of Blockchain.com, one of the biggest crypto enterprises out there. In an interview, CEO and co-founder Peter Smith stated that his company is now housed in a building in Miami’s Wynwood district, which often garners comparisons to San Francisco for its tech-savvy and “hip” attitude. He said:
Wynwood just really has that sort of spirit that you are looking for when a new tech sector is built. Ultimately you want to be with the other tech companies.
A Friendly Region to the Growing Space
One of the big reasons so many tech firms have flooded Miami in recent years is because the city remained fully open during the COVID pandemic. This made it an attractive, business-friendly region in the eyes of those looking to bring new companies to the fray. One of these people was John Bartleman, CEO of multi-asset broker Trade Station. He commented:
It’s hard to deny this is an amazing opportunity for companies to come here and build out their projects in crypto.
During the conference, Bartleman and his executive team saw an 11-foot, robot-like statue of a bull that they had commissioned months prior presented to the public for the first time. The bull was designed to look like the bull statue featured on Wall Street in New York, though this time around, it represents the expanding crypto space and the threats it throws towards traditional investment products.