The town council of Belo Horizonte has voted to declare town the “Capital of Bitcoin.” The choice got here throughout a heated session earlier this week, the place 20 councilors supported the invoice, 8 opposed, and 6 selected to abstain.
Councilman Vile Santos launched the proposal, saying Bitcoin represents financial freedom and innovation. He cited the US authorities’s transfer to construct a crypto reserve for instance of world adoption.
Political Divide Over Bitcoin in Belo Horizonte
The vote has began a debate between left-wing and right-wing councilors. Councilwoman Luiza Dulci of the Staff’ Celebration argued that Bitcoin has no intrinsic worth and lacks regulation. She questioned what sort of jobs or earnings Bitcoin may generate for residents.
In response, Santos insisted that it isn’t a political instrument however a monetary asset. “This isn’t about ideology,” he mentioned. “Bitcoin is a digital asset. Let’s carry innovation and crypto to Belo Horizonte’s economic system.”
One other councilor famous that greater than 2 million individuals in Minas Gerais already use Bitcoin. Supporters of the invoice consider town can turn out to be a hub for digital finance and tech-driven enterprise.
With Ethereum pushing previous $2,400 and the Pectra improve driving recent inflows, momentum is constructing. The upcoming ETH futures launch on Brazil’s B3 exchange may strengthen that pattern additional.
In the meantime, the choice of the Belo Horizonte council follows a world push so as to add Bitcoin as a strategic reserve throughout a number of US states in addition to a number of nations throughout the globe.
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