It appears that Francis Suarez, mayor of Miami, is studying Bitcoin following the guidance of Anthony Pompliano and the Winklevoss twins

Francis Suarez, mayor of Miami, is the latest prominent figure to show interest in Bitcoin (BTC), offering further evidence of growing mainstream adoption.

In a tweet posted Thursday, Suarez described Bitcoin Profit as a stable investment during an “incredibly unstable year,” adding that he is studying the leading digital asset with the help of well-known names like Tyler Winklevoss and Anthony Pompliano:

“A great explanation of how @Bitcoin has been a stable investment during an incredibly unstable year… I’m reading Bitcoin Billionaires @tyler. @APompliano any other reading to recommend?”

Winklevoss and Pompliano responded to Suarez’s tweet. Tyler said he, along with his brother Cameron, will bring the mayor of Miami a “signed copy of Bitcoin Billionaires,” a book about the twins, while Pompliano called Miami a future Bitcoin city:

“Miami is well on its way to becoming a Bitcoin city.”

A few hours earlier, Suarez indicated that his administration is exploring the idea of making Miami the first crypto-focused government in the United States. “We are absolutely exploring the idea,” he explained in response to a tweet. The mayor did not provide any other details.

Suarez was elected mayor of Miami in November 2017, after campaigning as a nonpartisan candidate. Before entering politics, he worked as a lawyer and founded a real estate company.

Some news outlets have described Miami as one of the best U.S. cities for cryptocurrency, thanks to permissive state oversight and an influx of foreign capital. Earlier this year, the North American Bitcoin Conference, attended by figures such as Charles Hoskinson, Roger Ver and Riccardo Sagni, was held in Miami.

The explosive rise tracked by Bitcoin this year, due in part to corporate and institutional adoption, is bringing out new conversations about digital assets. Bitcoin adoption is increasingly seen as a competitive advantage in an economy characterized by financial instability, asset price inflation, and record-breaking interventions by central banks.

The Bitfinex exchange now allows its users to take out personal loans in cryptocurrency through a new dedicated service, Bitfinex Borrow. Verified users can get loans in Bitcoin Legacy, Ether (ETH), and many other cryptocurrencies.

Cryptocurrency loans land on Bitfinex

The Bitfinex platform now offers the possibility for its users to take out loans in cryptocurrency. This service is offered through Bitfinex Borrow , a P2P platform that allows users to borrow funds from others using their cryptocurrencies or fiat currencies as collateral.

Access to Bitfinex Borrow is restricted to users whose identity has been verified . The higher the verification level, the greater the borrowing options.

There are many available cryptocurrencies, here is the list:

For the main cryptocurrency, namely BTC, borrowers can deposit US dollars, euros, Japanese yen and even Tether (USDT) as collateral. For an ETH loan, only the US dollar is currently accepted as collateral.

Regarding loan-to-value ratios, borrowers will be able to obtain loans in BTC corresponding to a maximum of 80% of the value of their holdings in dollars , euros or USDT. For the yen, the loan-to-value ratio will not exceed 70%. As for Ethers loans, the percentage may reach up to 80% of the funds deposited as collateral .

The annual percentage rate of charge (APR) for loans is particularly attractive and more advantageous than on other platforms. Bitfinex charges an annual interest rate of around 3.75% for BTC loans and around 1.22% for ETH loans .

The most advantageous rates are charged on DOT and EOS loans, these being only 0.1% and 0.01% at the time of writing, respectively.

How does the Bitfinex Borrow interface look?

For its new service, Bitfinex has made things as easy as possible. For example, let’s simulate borrowing 0.25 BTC on the platform .

On the screenshot below, Bitfinex tells me that I must first deposit 5,488 euros to borrow 0.25 BTC . A loan can be taken out over a period of 2 to 120 days .

For a loan with a period of 50 days, the daily interest rate here is 0.010270% . So I would have to repay the equivalent of 0.25128 BTC to the futures platform.

With Bitfinex Borrow, you can choose between a variable rate or a fixed rate loan. The interest charged for a variable rate loan changes throughout the life of the loan. This fluctuates according to supply and demand. The interest charged for a fixed rate loan is fixed for the entire term of the loan, and is not subject to any variation.

If you are interested in Bitfinex lending service, carefully read its terms of service first. Also note that this does not fit in the box of decentralized finance (DeFi), Bitfinex being a fully centralized platform.

Bitcoin (BTC) will always stick to the Proof of Work algorithm. In the picture a Bitcoin on a circuit board.

The demand for Bitcoin from the institutional side has increased massively in the last few months. Now another company has come across Bitcoin and has invested.

Ruffer Investment Company, a London based investment management firm, has announced that it has invested 2.5% of its portfolio in Bitcoin.

Bitcoin as a hedge against inflation

Ruffer LLP’s fund says they have more than $ 620 million in assets under management. Accordingly, the invested sum corresponds to approximately 15 million USD.

We see this as a small but powerful insurance policy against the ongoing devaluation of the world’s major currencies.

Bitcoin diversifies the company’s (much larger) investments in gold and inflation-linked bonds, and acts as a hedge against some of the currency and market risks we see.

They took this move recently in November “after reducing the company’s exposure to gold,” calling it “a primarily defensive move.”

That makes them one of the largest known UK institutional investors to have exposure to Bitcoin.

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Portfolio diversification with BTC

This announcement, made in a performance update and manager comment letter, says that the new allocation to the digital currency was made following a recent inclusion, a specialist manager appointed within the Ruffer Multi-Strategies Fund .

The name of the new specialist is not mentioned, but it could hint at a potential new strategy for the publicly traded investment management firm, which is one of the first to allocate Bitcoin in its portfolio.

This follows increased interest from institutional investors after numerous studies concluded that Bitcoin can act as a diversifier and hedge. This shows that the risk-adjusted portfolio returns increase with the addition of Bitcoin.

The interest of institutional investors is not diminishing. Almost every week there are reports from hedge funds, insurance companies and other companies that have now invested in Bitcoin.

It’s just the beginning of a long journey. Right now, all big investors are still pioneers and paving the way for big investments. If you want to keep up in the digital age, you can no longer ignore Bitcoin.