Miami's city commission voted Monday in favor of accessing nearly $5 million worth of MiamiCoin, a Miami-specific cryptocurrency — and counting — in bitcoin news Tuesday. Miami receives cash for each MiamiCoin mined (or created) using a base cryptocurrency called Stacks, which has its own token, which elected officials can spend to improve the quality of life for city citizens.
In other bitcoin news, billionaire Steven A. Cohen, owner of the New York Mets of Major League Baseball, is scheduled to invest in a new cryptocurrency trading firm, marking a big Wall Street investor's latest bet on the digital-asset markets. Dalio reiterated previous comments in an interview with CNBC on Wednesday, saying that governments have the power to stifle the growth of the nascent cryptocurrency market, which includes bitcoin and ether on the Ethereum blockchain and could pose a threat to traditional finance and global central banks. The future of digital coins is still murky, but there's no disputing that Bitcoin is making a strong comeback.
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