Belo Horizonte city council votes to declare the city the “Capital of Bitcoin.”

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.

The city council of Belo Horizonte, Brazil, has voted to declare the city the “Capital of Bitcoin.” The decision came during a heated session earlier this week, with 20 councilors supporting the bill, 8 opposing, and 6 choosing to abstain.

The proposal, introduced by councilman Vile Santos of the New Republic Party, aims to integrate Bitcoin into the city's fabric, positioning it as a hub for digital currency and technology.

"This moment marks a historic vote that will forever change Belo Horizonte," stated councilman Santos. "We are integrating Bitcoin into the city's fabric, making it the 'Capital of Bitcoin.' This move speaks volumes about our city's spirit: one that embraces innovation and the best solutions for the community."

Councilman Santos highlighted Bitcoin as a symbol of economic freedom and innovation, which aligns with the city council's vision. He also noted the US government's step to build a crypto reserve, showcasing global interest in digital assets.

"The vote on the bill to declare Belo Horizonte the 'Capital of Bitcoin' has started a debate between left-wing and right-wing councilors," reports the CCN.

"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.

"It's a pyramid scheme, a get-rich-quick scheme, and a speculative bubble," Dulci stated. "Those who have money will get richer, and those who don't will continue to suffer."

However, councilman Santos countered 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 added 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.

This vote comes as Ethereum pushes past $2,400 with Pectra upgrade driving fresh inflows and 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.

The post City council of Belo Horizonte, Brazil, votes to make city ‘Capital of Bitcoin’ appeared first on Chain Teller.

.

The post City council of Belo Horizonte, Brazil, votes to make city ‘Capital of Bitcoin’ appeared first on Chain Teller.

.