The head of Dubai-based investment firm IBC Group, Khurram Shroff, plans to buy 100,000 BTC (about $5.3 billion at the time of writing) to create the Miami 2.0 Blockchain Strategy Foundation, Gulf News reports.
The investment could become the largest in the history of the cryptocurrency market, the publication notes, citing Shroff. According to him, the decision is driven by a request from the American developer Burkhan World Investments to implement blockchain technology in Miami’s real estate sector.
Update: we have not been able to find information about Shroff’s status in public sources. The businessman is not mentioned in Forbes and other reputable rankings.
Shroff’s Twitter page deleted. The IBC Group website contains no information about current projects or leadership, and the contact page only has a form to subscribe to news.
Company’s Twitter account created in January 2021. The page has three followers.
In 2020, media reported that IBC Khurram Shroff transferred $10 million to an Ethereum 2.0 deposit contract via the Canadian institutional staking service CanETH. In 2019 Gulf News wrote, that the investment company agreed to buy 10,000 real estate properties for $5 billion. We could not find earlier data on the company’s activities.
Earlier, Miami Mayor Francis Suárez called digital gold a stable investment and said he planned to place South Florida at the forefront of crypto-friendly legislation.
In the same month he promised that in 2021 authorities would tackle integrating the asset as a means of payment. The Miami mayor also did not rule out transfer 1% of the city budget into Bitcoin.
22 January, Suárez announced the creation of a new team to develop a plan for greater city involvement in the cryptocurrency industry. His final version allows government workers to receive all or part of their salaries in the leading cryptocurrency and residents to pay taxes and fees using the asset.
In February, the Miami City Commission voted to study options for integrating Bitcoin into municipal infrastructure.
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