Miami Mayor Francis Suarez is investigating placing a percentage of his city’s treasury reserves in bitcoin. Miami is currently working on 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 unstable year.”
Miami could invest some of the city’s treasury reserves in Bitcoin
Francis Suarez, the mayor of the US city of Miami, Florida, has spoken with the crypto community about placing a small percentage of the city’s treasury reserves in bitcoin. Suarez, the first Miami-born mayor, previously served as Miami Commissioner for District 4 for eight years.
A future resident of Miami is Morgan Creek Digital partner Anthony Pompliano, who has discussed what bitcoin can do for Miami and why Suarez should put 1% of the city’s treasury reserves into cryptocurrency.
Pompliano tweeted Tuesday, “Retweet this if you moved to Miami if Mayor Francis Suarez put 1% of the city’s treasury reserves into bitcoin.” Suarez replied:
Definitely open to explore.
Twitter manager Danny the Hodler agreed, claiming “it’s not unprecedented.” He claimed that the Wyoming pro-bitcoin Senator-elect, Cynthia Lummis, “Did that to the Wyoming treasury long before anyone else even thought of the idea.” Suarez replied, “I’ll see what they’ve done.”
Lummis is a bitcoin hodler who is said “Bitcoin has shown a lot of promise to me and can rise as a viable alternative store of value to the US dollar, both on an institutional and personal level.” She promised ensure that Congress understands that bitcoin is a great store of value.
Suarez recently tweeted:
Bitcoin has been a stable investment during an incredibly unstable year.
The mayor of Miami has also talked about “being able to use bitcoin and other cryptos to pay property taxes and city fees,” he revealed on Dec. 22. In response to a tweet Tuesday about accepting Miami BTC as a means of payment for the services of the city he confirmed:
We will certainly work on that in 2021.
Do you think Miami should put a percentage of its treasury reserves into bitcoin? Let us know in the comments below.
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