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23 June 2021

The View From Bitcoin City - Decrypt

The View From Bitcoin City - Decrypt

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But there was a definite Fear and Loathing vibe to the Bitcoin 2021 carnival in Miami this weekend.

The organizers of the conference, Bitcoin Magazine, sold 12,000 tickets, but thousands more—close to 50,000 people, by some estimates—descended on Miami without a ticket, lured by the parties, dinners, and networking opportunities, the scene beyond the official event.

One founder of an NFT platform told me he came to pitch crypto VCs, but couldn't get to any of them because "they're all hiding on the beach or on a boat." Many of these hopefuls were from the Ethereum and DeFi world—folks who never set foot in the building for what was an explicitly Bitcoin maximalist conference.

The question that interested me more this weekend was whether Miami has succeeded in its stated goal: Is it Bitcoin City.

But by Saturday morning, the tone of the messages had changed to euphoria; one attendee wrote, "Miami did a major flex getting this conference.

He has attracted outside investment from firms like Borderless Capital, which will inject $25 million into blockchain companies based in Miami.

At a Blockchain Association cocktail party on Thursday evening before the conference, Miami Dade County Mayor Daniella Levine Cava addressed the party, and began in self-deprecating style by saying, "You all probably know Mayor Suarez." Then she asked for a show of hands of who had recently relocated to Miami (some) and who wants to move to Miami soon (many)?

Time will have to answer those questions, but at the very least, on this one weekend, Miami earned its mantle of Bitcoin City

This is Roberts on Crypto, a weekend column from Decrypt Editor-in-Chief Daniel Roberts and Decrypt Executive Editor Jeff John Roberts

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