Miami Aims to Become Crypto Capital of the World

October 14, 2021

Mayor Francis Suarez of Miami discussed Bitcoin and cryptocurrency in a Bloomberg publication on Tuesday.

The mayor was asked how important cryptocurrency initiatives are from him. Suarez responded:

“It’s a major priority for me because I want us to differentiate ourselves as a crypto capital of the United States or of the world.”

He added:

“We have actually done three things. One is that we are going to request a proposal in October to allow our employees to get paid in bitcoin, allow our residents to pay for fees in bitcoin, and even taxes in bitcoin if the county allows it.”

Mayor Suarez has been lobbying lawmakers to make it possible for government employees to be paid in Bitcoin. He has also been pushing to allow taxes to be paid in the number once crypto assets and even for the city to invest in Bitcoin.

Speaking of Miami holding Bitcoin on its balance sheet, he said:

“Of course, if we would’ve been able to hold it the moment that I put the resolution on our agenda, it’d be up by 30% or 40%, so would’ve looked like a genius back then. But that’s the way it works.”

The Bitcoin-bull mayor also spoke with Fox Business on Tuesday. He was asked his opinion about JPMorgan’s CEO Jamie Dimon’s comment who said on Monday “I personally think that bitcoin is worthless.”

Suarez made it clear to the viewers and by pointing out the current value of Bitcoin hovering around $55,000, he said:

 “It’s definitely not worthless.”

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Author: Peter Siu

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