A Dubai-based businessman Khurram Shroff has pledged 100,000 Bitcoin ($4.8 bn) to set up the Miami 2.0 Blockchain Strategy Foundation and this is the largest Bitcoin investment in the history of cryptocurrency.
Shroff’s Bitcoin investment will be used primarily to develop the cryptocurrency in Miami and the development could attract more cryptocurrency users in the city and they estimate that there will be billions of dollars worth of Bitcoin transactions daily.
Dubai’s IBC Group Pledges 100,000 Bitcoin, the Largest Bitcoin Investment in History, to Support Setup of the Miami 2.0 Blockchain Strategy Foundation.
— Khurram Shroff (@_ArabWhale) February 17, 2021
The pledge comes after Shroff’s IBC Group was approached by a well-known US real estate developer Burkhan World Investment to have more adaptation of the blockchain technology in the city of Miami specifically for real estate projects.
The US-based real estate developer has over $1 bn in real estate projects in Miami and they plan to be one of the leading technology hubs in the country.
Who is Khurram Shroff?
Khurram Shroff is the Charmain of IBC Group, which is based in Dubai and he is well known in blockchain technology in the Middle East.
Asides from the Miami 2.0 Blockchain Strategy Foundation where the 100,000 Bitcoin pledge would be used, there will be other cryptocurrency-related joint venture projects as well.
With this investment, Shroff believes that the city of Miami can become the first city in the United States to completely run on the blockchain.
Shroff’s investment is the largest in the history of Bitcoin and this is just the beginning of well-known corporations using cryptocurrencies primarily as an investment and expect to see more of this in the near future.
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