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Miami residents may begin to receive their salaries in Bitcoin



Miami residents to begin receiving their salaries in Bitcoin

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While some parts of the world are turning their backs on Bitcoin, others, like Miami, see it as a better store of value. The city of Miami is making conscious efforts to adopt Bitcoin faster than any other leading city in the United States, with realistic plans to position Bitcoin at the city’s center.

The Mayor of Miami, Francis Suarez, recently revealed that he is considering giving the residents of the state the option of receiving their salaries via Bitcoin or other cryptocurrencies. This came after he disclosed the possibility of paying taxes through Bitcoin as well. The Mayor has also planned to raise funds for his campaign reelection via Bitcoin.

Mayor Francis and his plans with Bitcoin in Miami

Mayor Francis Suarez happens to be the first Miami-born Mayor who has been actively influencing the Bitcoin community globally. He has also disclosed plans to adopt Bitcoin as a city-dominating digital currency.

Miami residents may begin to receive their salaries in Bitcoin

Francis first revealed his plans to include a reasonable percentage of Miami’s treasury reserve into Bitcoin. In his response to a tweet from Morgan Creek’s Anthony Pompliano, Francis openly indicated an interest in exploring the digital currency in Miami, stating how he was fascinated by the idea of Bitcoin.

Meanwhile, the Mayor is not the only U.S government parastatal fascinated by Bitcoin. Cynthia Lummis, currently working as the junior United States Senator from Wyoming, also seems to be miles ahead in the race for Bitcoin adoption. She has reportedly allocated a certain percentage of Wyoming’s treasury to Bitcoin. And in response, Francis asserts that he will follow Wyoming’s footsteps moving forward.

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Prior to this, Lummis had revealed that parts of her plans as a newly elected senator, is to educate her colleagues on Bitcoin. She said:

“I also plan to explain to my colleagues about bitcoin. I know there isn’t much known about bitcoin, especially in Congress. So, I want to make sure everybody understands that this is a great store of value.”

She went on to explain why Bitcoin is to her, a promising store of value. 

“I was struck by how innovative bitcoin is with its decentralized public ledger and a fixed supply. Bitcoin to me has shown great promise and may rise as a viable alternative store of value to the U.S. dollar both on the institutional level and the personal level.”

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