in

Rio de Janeiro’s Mayor to Invest 1% of The City’s Treasury in Bitcoin

Rio de Janeiro’s Mayor to Invest 1% of The City’s Treasury in Bitcoin



View Reddit by 33nmakkieView Source

Leave a Reply

Your email address will not be published. Required fields are marked *

GIPHY App Key not set. Please check settings

35 Comments

  1. tldr; Brazilian Mayor Eduardo Paes is looking to put 1% of Rio de Janeiro’s Treasury reserves in bitcoin. If he proceeds, the megapolis will become the first Brazilian city to purchase the primary cryptocurrency as a store of value. Paes also plans to provide a 10% discount on taxes when paid in BTC.

    *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

  2. We’re entering the phase where the fear of being last is *very* real for many nations. The earlier they get onboard, the better positioned in the world economy they’ll be if crypto keeps growing and becomes a mainstream asset/payment method.

    It’s a self fulfilling prophecy at this point. Even if the national leadership doesn’t believe in crypto, they still have to buy in so they won’t be last. As such, crypto will have to become mainstream because every nation will have holdings.

    If you’re here today, you’re early. The end.

  3. This will be totally well managed with no suspicion of corruption, self-dealing, and theft. Just some totally good news with no possibility of a downside. Yup. No risk at all for an oppressively poor city to invest their money into a speculative asset that does nothing for its citizens. Makes complete sense that they’d save money for the future by making a risky gamble while letting their people suffer from neglect during a global pandemic. Just totally cool and totally legal.

  4. He’s pretty envolved in corruption schemes. Thats like his 4th mandate as rio’s mayor.

    Dont espect a crypto enthusiast. He’s just a professional politician that seek his own interests. Thats all.

What do you think?

Bitcoin (BTC) Price On The Verge Of Bullish Breakout, Buyers Seek $47,000

Bitcoin (BTC) Price On The Verge Of Bullish Breakout, Buyers Seek $47,000

US billionaire investor Bill Miller has 50% of his personal assets in bitcoin.

US billionaire investor Bill Miller has 50% of his personal assets in bitcoin.