Miami mayor touts bitcoin as a stable investment during an unstable year.

Miami mayor Francis Suarez is the latest high-profile figure to praise Bitcoin, offering more evidence that mainstream adoption is growing. The mayor called Bitcoin a “stable investment” during an “incredibly unstable year,” adding that he’s learning about the flagship digital asset through figures like Tyler Winklevoss and Anthony Pompliano. Winklevoss and Pompliano both responded to Suarez’s tweet. The price of bitcoin reached new all-time highs this month after three long years.

Miami mayor seems enthusiastic about crypto.

Gemini co-founder Tyler Winklevoss said he and his brother Cameron would bring the Miami mayor a “signed copy of Bitcoin Billionaires,” a book written about the twins, while Pompliano touted Miami as a future Bitcoin city. Miami mayor Suarez also indicated that his administration is exploring the idea of Miami becoming the first crypto-centric government in the country. “Absolutely exploring that,” he said in response to a tweet. No further details were provided. Suarez was elected the mayor of Miami in Nov 2017 after running as a nonpartisan candidate. He previously worked as an attorney and also founded a title real estate title company.

Miami warms up to the idea of cryptocurrencies.

Miami has been described as one of the hottest American cities for cryptocurrencies due to lax state oversight and an influx of foreign capital. The North American Bitcoin Conference, which featured names like Charles Hoskinson, Roger Ver, and Riccardo Sagni, was held in Miami at the start of the year. Bitcoin’s explosive rally this year, fueled in part by corporate and institutional adoption, is driving new conversations about digital assets. Bitcoin adoption is increasingly viewed as a competitive advantage in an economy wrought with financial instability, asset-price inflation, and record central-bank intervention.