ATLANTA--(BUSINESS WIRE)--Last week, the Florida city of Madeira Beach became the first municipality in the world to officially embrace bitcoin. The city’s resolution to become a “Bitcoin Beach” comes ahead of the Bitcoin St. Petersburg Bowl, which is sponsored by BitPay, the world’s leading bitcoin payment processor. The bowl game, scheduled to take place in neighboring St. Petersburg on December 26th, is expected to draw thousands of bitcoin users.
The Bitcoin Beach along with other local municipalities became a focus of BitPay’s outreach after the announcement of the Bitcoin Bowl. The Madeira Beach resolution passed following a town hall at which BitPay presented the benefits of bitcoin to local business owners – the elimination of processing fees, security against fraud and chargebacks, and appeal to global and mobile-oriented customers. To date, more than 100 businesses in Madeira Beach and the greater Tampa Bay area have expressed interest in accepting bitcoin through the payment processor.
Madeira Beach is aiming to use the momentum from the Bitcoin Bowl to put the city on the map for bitcoin users. In addition to fostering one of the densest bitcoin economies in the world, the city will host the pre-Bitcoin Bowl Beach Bash, which will feature activities for visiting fans and teams. BitPay founders Stephen Pair and Tony Gallippi will also be presented with the key to the city of Madeira Beach prior to the Bitcoin Bowl.
“The city of Madeira Beach is opening its arms to the global bitcoin community,” said City Manager Shane Crawford. “We want bitcoin users to know that they can pay for their entire vacation with bitcoin here."
“We hope that other cities follow Madeira Beach’s example in supporting the growth of bitcoin,” said BitPay Executive Chairman Tony Gallippi. “For cities that attract international visitors, accepting bitcoin is a great way to boost sales.”
About BitPay
BitPay is the global leader in bitcoin payment processing with offices throughout North America, Europe, and South America. The company has raised over $32 million from top investors including Index Ventures, Founders Fund, and Sir Richard Branson.
