A new report reveals that the US’s two most important cities are competing to become ‘crypto hubs.’ New York is in a close race with Miami, Florida for the top spot in this emerging industry.
The “nasdaq moving to miami” is a move that has been in the works for quite some time. The Nasdaq will be moving its headquarters from New York to Miami, Florida. This move could potentially create a new crypto hub.
We discussed the rising prominence of digital assets in pop culture earlier this week. This growing power has continued this week, with a slew of new political figures entering the battle.
The mayor of Miami, Francis Suarez, was the first to declare in an interview that he would be accepting 100% of his pay in Bitcoin, with the option available to other municipal workers. The goal is straightforward: Miami wants to show that it is “going to be one of the most inventive governments and cities on the planet.”
Miami, on the other hand, will have its work cut out for it, since Eric Adams, New York’s soon-to-be Mayor, has already said that he has great plans for Bitcoin in the Big Apple. Apart from his personal choice to receive his few paycheques in BTC while in power, Adams has said on many occasions that he plans to compete for dominance as a crypto-hub in the next years.
In this specific event, there is no apparent lead runner at the moment. Cities were rated by their number of crypto jobs over the course of 2021, according to a new research, in an effort to determine which is actually becoming a crypto powerhouse.
- New York
- San Francisco is a city in California.
- Los Angeles is a city in California.
If it achieves its aim, New York might be converted from one of the tightest states when it comes to Bitcoin to a real center that fosters innovation, as the aforementioned data suggest.
Metrics & Market Reaction
BTC has been range-bound at $61,500 for the most part this week. While the great majority of market players think that the present bull market has plenty of life left in it, the near future is a little hazy, with governments declaring plans to start withdrawing stimulus in the coming months.
The potential of BTC to break past the $64,000 barrier seems to be the widespread agreement among traders in terms of immediate market direction. The sky is the limit if you succeed. If not, there is a firm floor in the mid-$50,000s.
Meanwhile, the BTC network’s hashing power continues to rise, reaching over 160 TH/s at the time of writing.
The “is cryptocurrency legal” is a question that many people ask. The answer to the question depends on what country you live in and how your government views cryptocurrencies. If you want to know more about the topic, I recommend reading “New York and Miami Vying to Become ‘Crypto Hubs’- Weekly Roundup.”
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