March 29, 2024

Mayor of Miami is interested in the idea of ​​investing part of the city's reserves in bitcoin

Francis Suarez tweeted that he would consider an offer to transfer some of the funds held inthe city treasury, into the first cryptocurrency, and called BTC a stable investment.

Mayor of Miami Francis Suarez in hismicroblogging on Twitter wrote that he would "definitely consider" the idea of ​​investing 1% of the city's coffers in bitcoin. So he responded to the proposal of the co-founder of the investment company Morgan Creek Digital Assets Anthony Pompliano. The latter asked the subscribers if anyone would want to move to Miami if the city invests part of its reserves in the first cryptocurrency.

“I am definitely open to considering this idea,” said Suarez.

He added that the city will be working on accepting bitcoin as payment next year. Previously, Suarez named the first cryptocurrency as the most stable investment in 2020.

In August, U.S. Congressman Tom Emmer duringdialogue with Pompliano stated that bitcoin will only get stronger after the world comes out of the crisis. The politician explained that the US economy is in the same condition as during the 2008 crisis. As then, people are looking for new ways to save capital from the US government issuing currency, leading to its depreciation.

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