Miami: The New Capital For Bitcoin (BTC) and cryptocurrencies?

Miami real estate complex accepts Bitcoin (BTC) and Ether (ETH)

A fervent admirer of Bitcoin (BTC), the mayor of Miami Francis Suarez intends to make his municipality the new land of cryptocurrency in the United States. Bitcoin could soon be used to pay taxes, civil servant salaries, and take a chunk of the cities treasury.

Miami, the new home of Bitcoin

Miami Mayor, Francis Suarez is a convinced Bitcoiner and is actively working on integrating cryptocurrency into the city’s heart. . Within a few years, Miami could become a veritable “Bitcoin City,” attracting many industry-related startups and embracing cryptocurrency in many ways.

Fascinated by the underlying ideology of Bitcoin, Francis Suarez revealed to Forbes media that he is well aware of the growing popularity of cryptocurrencies among the masses. Francis Suarez thus explores three concrete avenues for Miami to develop a “Bitcoin-friendly” environment.

First, city workers may soon have the option of receiving some or all their pay in bitcoin. Then local taxes and levies could be paid in bitcoin or through any other cryptocurrency. Finally, part of the city of Miami’s treasury could be allocated to bitcoin.

 “The last objective is probably the most difficult of the three, not because we have rules to follow in terms of investment threshold, but because we have rules to respect”, stated Francis Suarez.

All these initiatives would allow Miami to obtain a special status, where bitcoin occupies a prominent place in many ways. On the other hand, if Miami invests some of its capital in bitcoin, it would be a first for such an important city on the United States’ scale, and perhaps even the world.

These different proposals seem to be for Francis Suarez to convince the other elected officials to follow suit towards additional initiatives. Also, Tesla’s recent investment in Bitcoin supports Francis Suarez’s proposals. The fact that a company of this stature purchased $1.5 billion worth of BTC reinforces the image of cryptocurrency as a store of value.

The creation of the Bitcoin capital has already started

Although all these initiatives are still in the draft stage, Miami can already be considered a “Bitcoin-friendly” city. Indeed, the 2021 edition of one of the industry’s most popular conferences will take place in Miami.

If COVID-19 conditions do not deteriorate further by June, “Bitcoin 2021” will bring together big names like Jack Dorsey, Chamath Palihapitiya, Nick Szabo, or Anthony Pompliano. Francis Suarez will also speak at the conference. For the organizers of the event, the choice of Miami is not trivial and responds to an increasingly important demand from the community:

“We needed to find a city that would offer an incredible experience, that would remain open to business, and that would welcome the Bitcoin community with open arms. Miami is that city! Mayor Francis Suarez is working to establish Miami as the bitcoin capital of the world,” the organizers said in a statement.

Another notable feature is that Miami recently hosted a copy of Bitcoin’s whitepaper on its website. A decision that may seem futile at first glance, but which shows that Miami attaches particular importance to protecting the document’s integrity. The city of Miami has joined several governments and companies in this movement after Craig Wright demanded that two sites remove the Bitcoin (BTC) whitepaper …

For the past few weeks, Francis Suarez has picked up the pace and intends to make Miami the new capital of Bitcoin as quickly as possible. With the price of cryptocurrency reaching new heights, all the spotlight is on it, and the trust of the masses continues to grow.

Soon, Miami could become a real welcoming land for cryptocurrencies, especially with creating an environment favorable to the development of startups in the blockchain industry. Will Miami become the new Bitcoin El Dorado? If Francis Suarez continues on this path, everything suggests that it will be the case soon.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

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