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Dubai Businessman Pledged $4.8B BTC Investment

  • Dubai businessman Khurram Shroff pledged a $4.8B BTC investment.
  • Miami 2.0 Blockchain Strategy could transact $200 billion per day.
  • IBC group and Burkhanwere inspired by the Miami Mayor’s dedication to blockchain.

A Dubai tycoon, Khurram Shroff pledged 100,000 Bitcoin worth $4.8 billion towards launching the Miami 2.0 Blockchain Strategy Foundation.

Shroff Pledged $4.8B BTC To Miami City

Shroff is the chairman of Dubai’s IBC Group. IBC recently pledged $4.8 billion BTC towards setting up the Miami 2.0 project. Moreover, Shroff hopes his backing of the project will quicken the use of digital currency. Also, Miami 2.0 is estimated to transact $200 billion per day before the end of 2021.

The pledge by the IBC group will be crucial in helping crypto adoption across multiple industries. More so, the pledge comes after IBC Group was approached by US-based real estate developer Burkhan World Investment.

Shroff said,

Making the largest Bitcoin investment in history is proof of our commitment to assisting cities adopt blockchain, which we see as the key to enabling widespread adoption.

Also, Burkhan has over $1 billion worth of Miami real estate projects in its pipeline. In addition, Miami Mayor Francis Suarez’s resolve towards blockchain inspires both the IBC group and Burkhan. Thus, both are looking forward to being a part of Miami’s strategic tech vision.

Furthermore, Miami is also a pioneer of blockchain tech adoption. In fact, it became the first city to run on blockchain in the US. In addition to the Shroff pledge, there are also many investors investing huge amounts into Bitcoin. Following these investments, the crypto market had a huge rise. Several cryptos have also recently set new all-time highs.

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Crypto trading has enticed Ananthi Reeta to write for CoinQuora. She consistently contributes news and feature articles. She has covered several different blockchain and crypto niches, especially altcoins.