Welcome back to The Breakdown with me, NLW.

It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.

The breakdown is sponsored by nexo.io and produced and distributed by coin desk what's going on guys it is

friday february 12th and today we're talking about why j z's new bitcoin trust matters before that however

i want to start with some follow-up stories from shows from the past few weeks.

We turn first to Miami. I did a whole show about just Miami's tech insurgency a couple of weeks ago now.

But basically the backstory is that in December, an investor at Founders Fund tweeted out

something to the effect of, guys, you know we could just decide that Silicon Valley is in Miami, right?

The mayor of Miami, Francis Suarez, tweeted back and said, how can I help?

That started what has now become a three-month engagement with the technology field, including crypto,

and Mayor Suarez is on a mission to make Miami a hub for all things crypto, Bitcoin, and

tech in general. Now specifically on the Bitcoin front, he's said a number of times that he would

have some good news to share imminently about how he was trying to make Miami friendlier for

the space. Last night on Thursday at a city commissioners meeting, the commissioners of

Miami voted to study the use of crypto for, one, paying employees in Bitcoin, two, allowing people

to pay fines, fees, and taxes in Bitcoin, and three, investing city treasury in Bitcoin.

They also voted to approve a search for a vendor to help with any transactions

that would come after actual contractual approval. Now, Mayor Suarez's ask was initially a bit bigger.

He wanted them to vote to move forward without hesitation on all these fronts. But the five

commissioners had a long discussion and ultimately decided they wanted to study it more first.

Given that we're talking about politics, right? Something that is about consensus building,

this seems like a completely reasonable outcome. The city of Miami is now launching

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