The Mayor of Miami, Florida, has stated that he is “definitely open to exploring” the idea of investing 1% of the city’s treasury reserves in bitcoin (BTC).
The Mayor, Francis Suarez, was reacting on Twitter to a challenge from Anthony “Pomp” Pompliano, the Co-founder and Partner of Morgan Creek Digital Assets, who asked followers to retweet his post if they would be prepared to “move to Miami” if Suarez decided to take the bitcoin plunge with part of the reserves.
And, in response to a tweet asking about the possibility of Miami authorities “accepting bitcoin as a means for citizens to pay for city services and bills,” Suarez also replied that the city was “definitely going to be working on that in 2021,” adding,
“[We] believe that [BTC] and other top cryptocurrencies such as ethereum (ETH) will provide the opportunity for better returns and preserve the value of our capital over time rather than holding cash.”
At pixel time (09:18 UTC), BTC trades at USD 27,669 and is up by 4% in a day and 17% in a week. It rallied by 49% in a month and 280% in a year.
Corporate Treasuries Caught Between an Inflation Rock and Bitcoin
Crypto in 2021: Bitcoin To Ride The Same Wave Of Macroeconomic Problems
Bitcoin Wheel Cannot Be Stopped
Bitcoin, Ethereum, XRP, Bitcoin Cash, Litecoin, Chainlink Price Predictions for 2021