Business Daily – “Welcome to 'Bitcoin city'” (BBC World Service, December 3, 2025)
Episode Overview
In this episode of Business Daily, host John Laurenson visits Lugano, Switzerland, dubbed "Europe's Bitcoin city," to explore how the municipality has embraced cryptocurrency in daily life. He investigates how residents and businesses use Bitcoin, the city's ambitious Plan B initiative, criticisms and concerns around volatility and regulation, and the broader economic and philosophical implications of local crypto adoption. The episode features conversations with business owners, local officials, Bitcoin advocates, skeptics, and everyday residents.
Key Discussion Points and Insights
1. Lugano's Embrace of Bitcoin (01:09–03:41)
- Immediate Use Cases:
- Bitcoin is accepted for quotidian expenses, including municipal services like parking fines and childcare.
- Visitors and residents can use special crypto payment terminals distributed by the town council (03:00).
- Experiential Testimony:
- Mia Lippone experimented with living solely on Bitcoin, finding it viable for daily needs except public transportation, fuel, and some medical/dental services (07:11–08:16).
2. The User Perspective (03:41–05:01)
- International Utility:
- Nicolas, a French visitor, explains the convenience of spending Bitcoin abroad, avoiding currency exchange and the need to declare funds at customs.
- Gift/prepaid Bitcoin cards allow anonymous acquisition and spending (04:21).
- Quote:
"You can pay all over the world without currency exchange and without having to think about paying in local money."
— Nicolas, 04:21
3. Business Community's View (05:01–06:10)
- Merchant Experience:
- Cherubino Free, owner of Vintage NASA luxury store, accepts Bitcoin as an alternative payment method, noting transaction fees are competitive with bank cards. Actual use is sporadic, mostly among younger clients.
- Quote:
"We accept Bitcoin because it's a possibility to the client to pay in another way. There is cash, there is credit card, there is Bitcoin that have no cost."
— Cherubino Free, 05:24
4. The Plan B Initiative: Building a Bitcoin Hub (06:10–08:23)
- About Plan B:
- A collaboration between Lugano’s city council and Tether (issuer of the USDT stablecoin) to promote Bitcoin education and adoption.
- The Plan B Hub serves as a coworking, social, and educational space.
- Living Experiment: Mia Lippone details her 11-day, Bitcoin-only challenge, highlighting successes and practical obstacles (07:11–08:23).
- Quote:
"You can survive here in bitcoin only. And this is very an unicom of Lugano."
— Mia Lippone, 07:24
5. Community Sentiment & Public Reaction (08:23–10:35)
- Symbolism & Backlash:
- The Satoshi Nakamoto statue incident (vandalized and thrown into the lake) reflects divided local opinion.
- Local Skepticism:
- Lucia, a university affiliate, voices surprise at institutional promotion, associating crypto with crime and speculation.
- Quote:
"I think it's associated to crime, to the dark web and speculation."
— Lucia, 10:21
6. Critical Economic Perspective (12:01–13:34)
- Academic Scrutiny:
- Prof. Sergio Rossi warns of cryptocurrency volatility, risks for merchants, lack of deposit protections, and reputational dangers.
- Quote:
"The fact that Lugano is crypto friendly is a problem because this implies several risks... shopkeepers if they don't transform instantaneously their cryptos into Swiss francs when they sell their goods."
— Prof. Rossi, 12:01
7. City Hall’s Rationale & Claimed Benefits (14:09–15:54)
- Mayor's Vision:
- Mayor Michele Folletti describes the goal of bridging "old finance" and "new finance," attracting over 100 new companies to Lugano in 3–4 years.
- Claims immediate conversion of Bitcoin payments to Swiss francs minimizes municipal risk.
- Refutes the idea that crypto attracts criminal activity more than cash.
- Quotes:
"I would, and I want, build a bridge between old finance and new finance..."
— Mayor Michele Folletti, 14:09
"We start to move something."
— Mayor Michele Folletti, 14:42
"No, because mafia people are more interested to use fiat for money laundering... Because the most anonymous is the cash."
— Mayor Michele Folletti, 15:54
8. Future Vision and Crypto Philosophy (16:27–18:55)
- Circular Economy Dream:
- Mia Lippone advocates for a complete Bitcoin-based 'circular economy' and greater adoption in Switzerland and across Europe.
- Believes future crises may accelerate Bitcoin uptake.
- Quotes:
"It's important that we create sort of a circular economy where people earn bitcoin, keep bitcoin, spend bitcoin, pay for services in Bitcoin and keep bitcoin circulating in the space."
— Mia Lippone, 16:48
"We are super early in this... But I really hope that more places like Lugano will arise all over the world."
— Mia Lippone, 17:26
9. Philosophical Underpinnings (18:55–19:43)
- The debate over Bitcoin is fundamentally about trust in government versus the desire for financial autonomy.
- Host’s Summary:
"To Bitcoin or not to Bitcoin? The question is at root also a philosophical one..." — John Laurenson, 18:55
Notable Quotes & Memorable Moments
-
On Bitcoin's Everyday Use:
"You can survive here in bitcoin only. And this is very an unicom of Lugano."
— Mia Lippone, 07:24 -
On Anonymity & Regulations:
"A way of buying Bitcoin without the government knowing exactly."
— John Laurenson, 05:01 -
On Business Adoption:
"In reality, not a lot of. For now, only sporadically, only some client...In five, 10 years."
— Cherubino Free, 05:47 -
On Community Concerns:
"I think it's associated to crime, to the dark web and speculation."
— Lucia, 10:21 -
On Official Motivation:
"I want to build a bridge between old finance and new finance."
— Mayor Michele Folletti, 14:09
Key Timestamps
- 01:09 – John Laurenson introduces Lugano as "Europe’s Bitcoin city."
- 03:41 – Customer Nicolas demonstrates Bitcoin payment at McDonald's.
- 05:24 – Interview with Cherubino Free about taking Bitcoin at his luxury store.
- 07:11 – Mia Lippone describes her Bitcoin-only living experiment.
- 08:23 – Satoshi Nakamoto statue incident discussed; community reactions.
- 12:01 – Prof. Sergio Rossi explains economic risks and criticisms.
- 14:09 – Mayor Michele Folletti discusses municipal motivation and results.
- 16:48 – Mia Lippone expands on the vision of a circular Bitcoin economy.
- 18:55 – Host wraps up with the philosophical angle.
Tone and Language
The episode features clear, occasionally technical, but approachable language. Speakers express enthusiasm (proponents) or skepticism (critics) about the practicalities and consequences of broad Bitcoin adoption, with personal anecdotes and straightforward professional assessments. The host maintains an inquisitive, balanced tone throughout.
Conclusion
This episode offers a ground-level look at the intersection of cryptocurrency and municipal governance in Lugano, balancing optimistic visions of financial revolution with pragmatic concerns about stability, legality, and inclusivity. It is a thought-provoking exploration for anyone interested in the evolving real-world impact of cryptocurrency.