The Miami City Commission yesterday supported a resolution that will allow Bitcoin payments in the city. Miami is also considering paying its employees through BTC. The Ameri city is planning to offer its citizens to pay taxes in Bitcoin. According to an official announcement by the mayor, Miami is also planning to invest City Treasury in the world’s leading cryptocurrency. Another important part of the resolution is to allow Miami citizens to pay their taxes in Bitcoin.
“It’s wonderful to be a crypto-focused city.”
“It’s wonderful to be a crypto-focused city, and I want to thank my commission colleagues for allowing that to happen,” Suarez said. During a recent conversation with Bloomberg, the mayor of Miami said that the crypto market is growing significantly. During an interview with Fox Business, the mayor said that the city is planning to facilitate crypto businesses. “If I would have invested in Bitcoin last year, I would have made 200 plus percent. So, I would have looked like a genius. We are looking into allowing citizens to make payments, including taxes and fees to the city in bitcoin,” he noted.
Bitcoin continues to gain mainstream exposure.
The recent bitcoin frenzy has allowed the cryptocurrency industry to gain mainstream exposure. Several international institutions have shown interest in bitcoin. As reported earlier, Tesla invested $1.5 billion in the leading cryptocurrency that boosted bitcoin’s price to reach above new all-time highs. Miami mayor also said that they are considering diversification of their investment portfolio to invest in BTC. Miami mayor’s recent announcement has opened doors for broader adoption as the city is planning to allow its citizens to pay the fee through Bitcoin. Earlier, Andrew Yang tweeted that he would plan on making New York a crypto hub if elected mayor.