The mayor of Miami is considering putting some of the city’s treasury reserves into bitcoin

Miami Mayor Frances Suarez is exploring placing a percentage of his city’s treasury reserves in bitcoin. Miami is currently working to accept cryptocurrency as a method of payment for city services and taxes. The mayor believes that “Bitcoin has been a stable investment during an incredibly unstable year”.

Miami may invest some of the city’s treasury reserves in bitcoin

Francis Suarez, mayor of Miami, Florida, has been discussing with the cryptocurrency community about putting a small percentage of the city’s treasury reserves into bitcoin. The first Miami-born mayor, Suarez previously served as Miami District Four for eight years.

One soon-to-be resident of Miami is Anthony Pomplano, Morgan Creek Digital partner, who has been discussing what bitcoin could do for Miami and why Suarez should put 1% of the city’s treasury reserves into cryptocurrency.

Pomplano tweeted on Tuesday, “Retweet this if you were to move to Miami if Mayor Francis Suarez put 1% of the city’s treasury reserves into bitcoin.” Suarez replied:

Definitely open to exploring it.

Danny the Hoodler, who has dealt with Twitter, went into it claiming that “it is not unprecedented.” And confirmed that the Senator elect supported the Bitcoin currency from Wyoming, Cynthia Loomis“They did it in the Treasury fashion in Wyoming before anyone else even thought of the idea.” Suarez replied, “We’ll look at what they did.”

Lummis is the one who deals with Bitcoin He said “Bitcoin has shown me great promise and may rise as a viable alternative store for the US dollar both at the institutional and personal levels.” I promised Make sure Congress understands that Bitcoin is a great store of value.

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Suarez recently tweeted:

Bitcoin was a stable investment during an incredibly unstable year.

The mayor of Miami also discussed “the ability to use Bitcoin and other cryptocurrencies to pay property taxes and city fees,” he revealed on December 22nd. In response to a tweet on Tuesday about Miami admission BTC As a method of payment for city services, he confirmed:

We’ll definitely be working on that in 2021.

Do you think Miami should put a percentage of its treasury reserves in bitcoin? Let us know in the comments section below.

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