The official has spearheaded progressive regulation of technology for the city on the East coast. And he is turning his attention to Bitcoin now.
Miami Mayor Francis Suarez, as per a tweet, teased a Bitcoin purchase earlier today. However, this was not meant for his own account, with Suarez saying that the treasury funds of Miami will make their way to Bitcoin. “We hope to make our City of Miami one of the most crypto-forward and technologically advanced cities,” Suarez said in the tweet.
Suarez is now regretting not purchasing the world’s largest crypto asset sooner. The Miami Mayor said, as per a related report on Fox Business, that the reserves might have been “200 percent plus” had he stuck to the plan earlier.
The Mayor added that Miami was even looking into allowing citizens to pay Bitcoin city taxes and fees, stating that it was already looking to create a regulatory framework that made the city of Miami “the easiest place in the United States to do business if you’re doing it in cryptocurrencies.” Suarez noted: “I want the creative and the innovative class to come here and create high-paying jobs for my residents.”
He noted that Bitcoin was a “very attractive investment” and that, according to Fox, the city of Miami is also considering “diversifying our investment portfolio” and buying a percentage of Bitcoin investments.