Cryptocurrency Craze: Miami Becoming Hotspot For Digital Currency

MIAMI (CBSMiami) – Miami is the Magic City, but could it soon be the crypto city?

"Where is the crypto capital of the United States? And that's definitely in Miami now," said Jeff Sekinger.

Sekinger is the president of Orca Capital, a Miami-based cryptocurrency fund.

Sekinger got involved in crypto just a few years ago and it catapulted him into starting his own business.

He's also CEO of ZeroPercent.com, which is a financial education company.

"The biggest thing that I think is pulling people in is the overnight success," said Sekinger.

Coming from San Diego, Sekinger knew he had to come here to Brickell not only to work but to also live.

He says the area is innovative, fast, young, and exciting – the ideal location for those in the crypto world.

"I get invited to places all the time from people I don't even know they're like I know you're in this industry come hang out with us, speak at this event," said Sekinger.

It's not just the vibe in Miami that's brought crypto entrepreneurs like Sekinger, but also the support from officials including Miami's own mayor who announced in July that the city is launching its own cryptocurrency initiative – Miami Coin.

"It will help the city of Miami directly because a percentage of the funds that are generated from the mining activity of the Miami Coin by the contract of the rules will go directly to the city of Miami that we deem necessary," said Mayor Francis Suarez.

Miami also hosted Bitcoin 2021, the world's largest cryptocurrency conference over the summer in Wynwood.

Sekinger says crypto is the future not just in Miami, but the world.

"It's turning into a real currency being used by actual counties now to fundamentally operate and being used to transfer value and data which that is never going to change," said Sekinger.