BREAKDOWN: Will Mayor Suarez's Miami Be the First Major City to Buy Bitcoin?
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 15 January 2021
⏱️ 18 minutes
🧾️ Download transcript
Summary
The entrepreneurial mayor brings his recruitment of tech talent to the crypto space with the potential of a 1% investment of the city’s reserves into BTC.
This episode is sponsored by Nexo.io.
Today on the Brief:
- Initial jobless claims grow the most since March
- Biden unveils emergency relief plan
- Fed Chair Powell discusses CBDCs and stablecoins
Our main discussion: Is Miami about to put 1% of its treasury into bitcoin?
Since December 2020 there has been a lot of conversation about whether Miami could become the next Silicon Valley, or at least recruit a big swath of entrepreneurial talent to set up shop.
In this episode, NLW looks at how that discussion moved into the crypto realm and led to Mayor Suarez’s recent discussions about moving Miami’s treasury into bitcoin. He argues that the story is about the larger shifts in how cities and geographic regions compete for supremacy in the social media, remote work era.
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Transcript
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| 0:00.0 | It feels to me very likely that Mayor Suarez is actually going to push for this Bitcoin thing to happen. |
| 0:05.6 | The headlines are just too massive not to. |
| 0:07.9 | I mean, just the possibility of it has national TV appearances happening. |
| 0:12.0 | Should that go through, it opens up yet a new category of demand in the form of municipal budgets. |
| 0:18.4 | And the tail ones are there for him. |
| 0:19.9 | Let's go back to what he said. |
| 0:21.2 | If he did it last year, he'd have looked like a genius. |
| 0:25.5 | Welcome back to The Breakdown with me, NLW. |
| 0:29.6 | It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world. |
| 0:36.5 | The breakdown is sponsored by nexo.io and produced and distributed by |
| 0:40.8 | CoinDesk. What's going on, guys? It is Friday, January 15th, and today we're talking about |
| 0:49.1 | Miami and whether it will be the first major city to buy Bitcoin. |
| 0:55.1 | First up, however, let's do the brief. |
| 0:57.4 | First on the brief today, a big jump for jobless claims this week. |
| 1:02.0 | Initial jobless claims rose 181,000 to 965,000. |
| 1:07.4 | We're almost back at that million number. |
| 1:09.6 | It's the biggest gain since the pandemic hit and is |
| 1:13.4 | kind of easy to explain, although really frustrating. Consumer spending during holidays was retreating, |
| 1:19.3 | but even that wasn't a huge boom. Retail sales actually fell 0.7% in December. People effectively |
| 1:25.6 | are nervous again. The coronavirus caseload is rising. The vaccine is |
| 1:30.1 | rolling out, but we're seeing all these reports of delays and inefficiencies. And so people are |
| 1:34.9 | naturally retreating into themselves. They're spending less. They're trying to be more resilient. |
... |
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