The chairman of Dubai’s IBC Group, Khurram Shroff, has pledged 100,000 Bitcoin worth $4.8 Billion to set up the Miami 2.0 Blockchain Strategy Foundation. This comes as the largest pledge in Bitcoin’s history for helping in the development of the cryptocurrency landscape in Miami. Shroff’s backing of Miami 2.0 Blockchain Strategy could kickstart an estimated cryptocurrency transactions worth $200 Billion per day, by the end of 2021. Largest Bitcoin Investment in History The pledge by IBC group will be significant in facilitating the cryptocurrency’s adoption across multiple industries and critical while boosting Miami’s vision to integrate Bitcoin in everyday transactions. Khurram Shroff is also an avid supporter of Ethereum 2.0, and had helped beacon chain reach the required threshold for its launch in November 2020. As of yet, the beacon chain has more than $5B worth of Ether staked to secure the Ethereum Proof of Stake (ETH2.0) network. On making the largest Bitcoin investment in history, 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.” Miami’s Strive Towards Blockchain City In a recent interview, by Miami’s Mayor Francis Suarez said: “Cities like Miami, we’re trying to attract tech town. It’s part of a larger play to position Miami as one of the most tech-forward cities in the country.” The pledge comes after IBC Group was approached by the US-based real estate developer Burkhan World Investment for the adoption of blockchain-based real estate projects in Miami. Burkhan currently has over $1 billion worth of real estate projects in Miami in its pipeline with technological innovation. Shroff believes that Miami can become the first city to completely run on blockchain in the United States and become the leading technological hub in the country. Doing so the US-Based city can align itself with Dubai that is currently at the forefront of blockchain technology adoption.
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