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Mayor of Miami plans to develop the city using Bitcoin


Miami Mayor Francis Suarez plans to create favorable conditions in the city for the use of cryptocurrencies and the development of startups.  He announced this in an interview with the creators of the Gemini exchange – Tyler and Cameron Winklevoss.

In addition, he wrote in his microblog on Twitter that he would “definitely consider” the idea of investing 1% of the city’s coffers in Bitcoin.

Previously, Suarez called Bitcoin one of the most stable investments in the current economic conditions. He is confident in the continued growth of bitcoin due to its limited supply and growing popularity.

The Mayor of Miami also stated that his mission is to make Miami “the most competitive city on the planet in the field of cryptocurrency”. Winklevoss brothers supported his aspirations.

“Many Miami residents have families overseas. To transfer money to them, Miami residents have to pay large commissions. Using cryptocurrencies is the same as sending an email message. It’s free and fast”, – said Tyler Winklevoss.

Integration of Miami into the cryptocurrency industry

Suarez said that Miami is a financial and banking center. Therefore, it makes sense to make this city a “hotbed of technological innovation” by developing cryptocurrencies. Miami is a little behind New York in this area, but can be quickly caught up with some effort.

In January, Suarez created an initiative group to integrate the city into the cryptocurrency industry.

On this basis, Miami is currently moving in three main directions to expand bitcoin adoption:

– Ability to pay salaries to city employees in Bitcoins;

– Local fees and taxes can be paid in Bitcoins or other cryptocurrency;

– The city treasury can channel some of its investment capital into Bitcoin.

In addition to efforts made in the interests of his own city, Mayor Francis also refers to other states and jurisdictions to share experiences.

Suarez is a big believer in cryptocurrency and believes that it can change the lives of the residents of Mayami. Earlier, Cameron Winklevoss also said that the opponents of cryptocurrencies are “crazy”. While crypto assets are creating the future of finance.

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