Miami’s Mayor ‘Open To Explore’ Investing 1% of City’s Treasury Reserves in Bitcoin

In an interesting twist of events, the Mayor of Miami, Francis Suarez, has said that he’s open to exploring the idea of putting 1% of the city’s treasury reserves in Bitcoin.

• Earlier today, well-known Bitcoin permabull and proponent Anthony ‘Pomp’ Pompliano came up with an interesting tweet. He urged his followers to retweet it if they “would move to Miami if Mayor Francis Suarez put 1% of the city’s treasury reserves in Bitcoin.”
• Less than an hour later, the tweet has been shared over 1,200 times at the time of this writing. More interestingly, it caught the attention of Mayor Suarez himself.
• Responding to Pomp’s tweet, he said that he is “Definitely open to exploring it.”

Definitely open to exploring it.

— Mayor Francis Suarez (@FrancisSuarez) December 29, 2020

• Of course, at this point, there’s absolutely no further information if any plans of the kind would ever come to fruition, but it’s undoubtedly a step in the right direction for Bitcoin that high-ranked administrative officials are even bringing it into the conversation.
• While there are certain states where US citizens can use bitcoin to pay their taxes, such as Ohio, for example, it’s unheard of for any city, let alone state, to even consider investing treasury reserve funds in the cryptocurrency.

Featured image courtesy of US News