Miami Mayor Suarez Considers Buying Bitcoin Amid Growing Acceptance

Mayor Francis Suarez has risen to become a star in the crypto industry over the past few weeks as he pushes to make Miami a crypto-forward city. However, the Major is also looking to cash in the crypto rush personally, and he is weighing his options.

Red-Hot Assets on Suarez’s Mind

Earlier this week, Mayor Suarez commented on his prospective policies and his vision for Miami viz-a-viz crypto acceptance, Decrypt reports. The conversation pivoted to his personal crypto escapades, with Suarez claiming that he doesn’t own any assets yet.

The Mayor eventually said that he would buy some crypto this coming week, adding that he was stuck between Bitcoin, Ether, and Dogecoin. The Mayor said he was looking to make his purchases sooner rather than later, although he hopes to do it as a commemoration of Bitcoin crossing the $50,000 mark.

Now that the leading cryptocurrency has left $50,000 in the dust, Suarez could very well have bought into the market.

Suarez’s vision for Miami has captivated the crypto space thus far. The Mayor hopes to turn Miami into America’s most crypto-forward city, and he has been doing a great deal to bring that vision to life.

Last week, the Mayor announced that the City Commission had agreed to examine some of his crypto-friendly policies, including paying workers in Bitcoin and keeping some of the city’s reserves and investment funds in the leading cryptocurrency.

Exploring:

• State legislative priority
• Paying employees in Bitcoin
• Investing City treasury in Bitcoin

We got it done ✅ pic.twitter.com/88laGvVbEG

— Mayor Francis Suarez (@FrancisSuarez) February 12, 2021

Bloomberg reported that the City Commission had voted 4-1 in favor of the resolution. However, given Bitcoin’s volatility and Suarez’s policy proposals’ sensitive nature, they have decided to take a more cursory look at its feasibility. 

Bringing Crypto to Miami

The Mayor is also looking towards progressive policy adoptions. Speaking with Forbes earlier this month, he explained that lawmakers are examining the policies of crypto-friendly states like Wyoming and New York.

“Miami is making sure that we have the most progressive crypto laws. We want to make sure that we believe that if all things are equal, we win. So, we just want to equalize the playing field. We want to make sure that nobody has an advantage over us based on laws that are easily changeable.”

The policy proposals will take a while to be fully formed, but the entire industry has its eyes on Suarez now.

Read more: 

• Miami Publishes Bitcoin White Paper on City’s Website