Miami Mayor Francis Suarez examines a percentage of his city’s treasury reserves in bitcoin. Miami is currently accepting the cryptocurrency as a means of payment for city services and taxes. The mayor believes that “Bitcoin has been a stable investment during an incredibly volatile year.”
Miami was able to invest some of City’s treasury reserves in Bitcoin
Francis Suarez, the mayor of the U.S. city of Miami, Florida, spoke to the crypto community about a small percentage of the city’s treasury reserves in bitcoin. Miami’s first mayor, Suarez, previously served as Miami’s district commissioner for eight years.
One of the residents of Miami who will be there soon is Morgan Creek Digital partner Anthony Pompliano, who discussed what bitcoin can do for Miami and why Suarez should put 1% of the city’s treasury reserves in the cryptocurrency.
Pompliano tweeted Tuesday, “Repeat this if you were to move to Miami if Mayor Francis Suarez put 1% of the city’s treasury reserves in bitcoin.” Suarez answers:
Definitely open to exploring it.
Twitter treats Danny the Hodler, claiming that “it’s not unheard of.” He claims that the pro-bitcoin Senator-elect from Wyoming, Cynthia Lummis, “did it with Wyoming’s coffers before anyone else thought of the idea.” Suarez replies, “Will see what they did.”
Lummis is a bitcoin chief who said: “Bitcoin has shown me great promise and can rise as a viable alternative value to the US dollar, both institutionally and personally.” She promised to ensure that Congress understands that bitcoin is a great value asset.
Suarez recently tweeted:
Bitcoin has been a stable investment during an incredibly volatile year.
The mayor of Miami also discussed “being able to use bitcoin and other cryptocurrencies to pay property taxes and city fees,” he revealed on Dec. 22. He responded on Tuesday to a tweet about Miami accepting BTC as a means of payment for the city’s services, he confirmed:
We will definitely be working on it in 2021.
Do you think Miami should put a percentage of its treasury reserves in bitcoin? Let us know in the comments below.
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