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Miami Mayor Considers Investing Part Of City's Treasury Reserves In Bitcoin


Bitcoin has continued to attract the attention of individual investors; institutions, even government officials, do not seem to be left out.

The top cryptocurrency by market cap, dubbed the best investment of the decade, has made many people regret why they didn't get into bitcoin much earlier. The mayor of Miami seems to be in this category.

In a recent interview with FOX Business on January 14, 2021, Miami Mayor Francis Suárez made his intentions known and said he is considering diversifying part of the city's current investment portfolio, putting a percentage of it in Bitcoin

In his own words;

"We are considering diversifying our investment portfolio and keeping a percentage of our investment in Bitcoin."

“I would have done it last year, I would have earned more than 200%. So he would have seemed like a genius to me. "

Mayor Suarez aims to make Miami a crypto-friendly city, making the city the easiest place to execute crypto transactions in the United States.

"So we're looking at a variety of things, from being able to make payments in cryptocurrencies, in Bitcoin, in particular, to being able to pay your taxes, to being able to pay fees to the city."

The limited supply of Bitcoin is cited as to why the Mayor believes that investing in Bitcoin is a great investment opportunity. He believes that the price of bitcoin will only continue to increase in value due to this feature.

More US government position holders declare allegiance to Bitcoin

Although the United States is one of the countries with strict crypto policies that have forced many crypto-related establishments to leave the country, more and more government officials are openly declaring their support for Bitcoin.

In addition to Mayor Suarez, United States representative for Minnesota, another decentralization and pro-cryptocurrency public office holder is Congressman Tom Emmer.

Tom Emmer believes that bitcoin and blockchain are going nowhere but will continue to be more important as they go.

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