Brazilian mayor to reportedly invest 1% of city reserves in Bitcoin

14 Jan 2022

Brazilian mayor to reportedly invest 1% of city reserves in Bitcoin

. Eduardo Paes, mayor of Brazilian city Rio de Janeiro, wants to allocate 1% of the city’s treasury into Bitcoin (BTC), Cointelegraph Brazil reported.Paes reportedly announced plans for "Crypto Rio," or turning the city into a cryptocurrency hub during Rio Innovation Week on Thursday, according to a report by local news agency O Globo.

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