The US beach city of Miami can be the crypto capital of the world. The city’s mayor, Francis Suarez is reportedly planning to leave no stone unturned to make Miami the hottest destination for all crypto experts and enthusiasts.
Miami has the highest number of expatriate populations in the US. As such many transfer funds to their family members back in their native countries using Bitcoins and other cryptocurrencies. With a significantly higher population of people from all over Latin America, Miami is already a big business hub.
Andrew Barnard, CEO of Bitstop, a company that is credited with putting up the first Bitcoin ATM in Florida, is betting on Miami to be the world’s crypto capital in coming years. Commenting on how the Hispanic community is cherishing the decentralized altcoins, Barnard says: “They are using bitcoin to empower themselves and their community. This is not just ‘skin in the game.’ This is ‘soul in the game’ for those who came to Miami to make a better life for themselves. “
Corporate America is already pushing for the wider adoption of Bitcoins and other digital tokens. Earlier this week, speaking to CNBC, Michael Saylor, CEO of Microstrategy, said that it is not only Bitcoins but also other cryptocurrencies that are important.
Barnard also explained that because Florida has a huge retiree population and that “Bitcoin ATMs are very popular among this demographic.” Barnard explained that it is because “they find it easier to use than an online exchange.”
“Bitcoin ATMs are a gateway into the digital economy for these people, and their compounding effects on the city will become more and more apparent over time,” he added.