Brazil Names City of Belo Horizonte the ‘Capital of Bitcoin’
Highlights
- 20 councillors voted in favor of naming Belo Horizonte the capital of Bitcoin.
- Councilman Vile Santos introduced the proposal, arguing that the flagship crypto promotes economic freedom.
- Coincillors who voted in support of the bill believe the city can become a hub for digital finance.
The city council of Belo Horizonte has voted to declare the city the “Capital of Bitcoin.” The decision came during a heated session earlier this week, where 20 councilors supported the bill, 8 opposed, and 6 chose to abstain.
Councilman Vile Santos introduced the proposal, saying Bitcoin represents economic freedom and innovation. He cited the US government’s move to build a crypto reserve as an example of global adoption.
Political Divide Over Bitcoin in Belo Horizonte
The vote has started a debate between left-wing and right-wing councilors. Councilwoman Luiza Dulci of the Workers’ Party argued that Bitcoin has no intrinsic value and lacks regulation. She questioned what kind of jobs or income Bitcoin could generate for residents.
In response, Santos insisted that it is not a political tool but a financial asset. “This isn’t about ideology,” he said. “Bitcoin is a digital asset. Let’s bring innovation and crypto to Belo Horizonte’s economy.”
Another councilor noted that more than 2 million people in Minas Gerais already use Bitcoin. Supporters of the bill believe the city can become a hub for digital finance and tech-driven business.
With Ethereum pushing past $2,400 and the Pectra upgrade driving fresh inflows, momentum is building. The upcoming ETH futures launch on Brazil’s B3 exchange could strengthen that trend further.
Meanwhile, the decision of the Belo Horizonte council follows a global push to add Bitcoin as a strategic reserve across multiple US states as well as several countries across the globe.
- ProShares Files for Index Crypto ETF Tracking Bitcoin, Ethereum, XRP, and Solana
- Trump Says Meeting with China May Not Happen, Bitcoin Drops
- The Great Rotation? Bitcoin Rises as Gold Sees Largest Daily Drop Since 2013
- Crypto Czar David Sacks to Meet Senate Republicans In Bid To Advance Market Structure Bill
- Waller Floats ‘Payment Account’ Framework to Provide Crypto Firms Access To Fed’s Payment Rails
- Chainlink Price Eyes $27 Rebound as Whales Accumulate 54M LINK
- Pi Network Price Wedge Signals a Rebound as Key Upgrades Raise Utility Hopes
- Solana Price Eyes $240 Recovery as Gemini Launches SOL-Reward Credit Card
- XRP Price Prediction Amid Evernorth’s $1B XRP Treasury Plan – Can XRP Hit $5?
- Ethereum Price Targets $8K Amid John Bollinger’s ‘W’ Bottom Signal and VanEck Staked ETF Filing
- Pi Coin Price Eyes 50% Upswing As AI-Powered App Studio Update Ignites Optimism
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
