Miami mayor plans to put some of the city’s cash reserves in Bitcoin

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#Miami #Mayor #Francis #Suarez is considering putting a percentage of his city’s cash reserves in bitcoin. #Miami is currently working towards accepting cryptocurrency as a payment method for city services and taxes. The mayor believes that “Bitcoin has been a stable investment during an incredibly volatile year. “

#Miami could invest some of the city’s cash reserves in #Bitcoin

#Francis #Suarez, the mayor of the US city of #Miami, #Florida, has spoken to the crypto community about putting a small percentage of the city’s cash reserves into bitcoin. The first #Miami-born mayor, #Suarez previously served as #Miami’s #Commissioner for #District 4 for eight years.

#Morgan #Creek #Digital partner #Anthony #Pompliano, soon to be based in #Miami, discussed what bitcoin can do for #Miami and why #Suarez should put 1% of the city’s cash reserves into cryptocurrency.

#Pompliano tweeted on #Tuesday: “##Retweet this if you moved to #Miami if #Mayor #Francis #Suarez put 1% of the city’s cash reserves in bitcoin.” #Suarez replied:

#Definitely open to explore it.

#Twitter chief #Danny the #Hodler stepped in, saying “It’s not unprecedented. #He claimed that #Wyoming pro-bitcoin elected senator #Cynthia #Lummis “did this with #Wyoming treasury long before anyone even thought of the idea.” #Suarez replied, “I will review what they did. ”

#Lummis is a #Bitcoin hodler who said, “#For me, #Bitcoin has shown great promise and could become a viable alternative store of value to the US dollar both institutionally and personally.” #She promised to make #Congress understand that bitcoin is a great store of value.

#Suarez recently tweeted:

#Bitcoin has been a stable investment during an incredibly volatile year.

The mayor of #Miami also discussed the possibility of using bitcoin and other cryptos to pay for property taxes and city fees, he revealed on #December 22. city ​​services, he confirmed:

#We will definitely be working on it in 2021.

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

#Tags in this story

accept bitcoin, #Bitcoin settlement, BTC, #Francis #Suarez, invest in bitcoin, miami bitcoin, miami city services, miami mayor, miami taxes, miami treasure reserves, pay taxes with bitcoin

#Image credits: #Shutterstock, #Pixabay, #Wiki #Commons

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