The City of Miami Wants to Buy Bitcoin (BTC)… ASAP!

The City That Has Become Crypto-Friendly – Miami Mayor Francis Suarez is striving to adopt a modern attitude, fostering innovation and his city’s tech sector. Among the many projects mentioned is bitcoin. The latter believes that this innovation will be „the biggest story of the next few years“.

Miami’s Cryptocurrency Craze

In recent weeks, Miami has made a name for itself in the cryptocurrency world, wanting to allow the payment of taxes and salaries of its inhabitants in bitcoin .

Today is the city’s public treasury could place part of its investment reserves in Bitcoin . If this project is completed, Miami would be the first city in the United States (and the world) to enter this restricted sphere – currently reserved for a few tech giants listed on the stock exchange.

Sudden acceleration

Faced with the massive purchase of bitcoins by Tesla , entrepreneur Anthony Pompliano believes that:

“(…) The race is on to see which municipality will be the first to include Bitcoin on its balance sheet. “

In the latter, Miami seems to have taken a big lead . And as if that were not enough, the mayor of the city wishes to accelerate this process , by convening soon the commission in charge of pronouncing on this thorny decision.

Whether or not the resolution in question passes, this statement remains significant from a politician who quickly became one of the main crypto advocates in the country. The latter organized meetings with the Winklevoss twins as well as with leaders of bitcoin mining pools . Finally, the man has repeatedly boasted of having lunched with Peter Thiel , co-founder of PayPal and also invested in projects related to Bitcoin and cryptocurrencies.

Beyond the efforts made for his city, Francis Suarez strives to open up to other states and jurisdictions to learn from them. He held talks with Jimmy Patronis , CFO of Florida, on the opportunity to present to the Legislative Assembly of the State legislation to regulate and recognize more the bitcoin.

The integration of Bitcoin into a state balance is generally good news for the cryptocurrency market. Nevertheless, it is difficult to determine whether this enthusiasm of Francis Suarez shows real enthusiasm or if the man only wants to promote his candidacy in the next elections.