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Brazilian mayor to reportedly invest 1% of city reserves in Bitcoin -Breaking


© Reuters.

Eduardo Paes, mayor of Brazilian city Rio de Janeiro, wants to allocate 1% of the city’s treasury into (BTC), Cointelegraph Brazil reported.

Paes reportedly announced plans for “Crypto Rio,” or turning the city into a cryptocurrency hub during Rio Innovation Week on Thursday, AccordingA report from O Globo, a local news agency.