Twitter’s CEO Jack Dorsey has time and again expressed his support and interest in the crypto industry. Dorsey even went on to roll out several initiatives for the crypto-verse through Square. While regions across the globe have started to view cryptocurrencies as a prospective part of the financial sphere, Miami took a step forward as the American city intends to pay its employees in crypto. Dorsey went on to laud this move of the city.
Appearing in a recent interview with Forbes, the Mayor of Miami, Francis Suarez revealed that he plans to spruce up the adoption of Bitcoin in the city. Suarez reportedly wants to induce crypto into the city by considering paying the employees of the city in Bitcoin. The Twitter CEO came across this news and tweeted about the same. His tweet read,
Apart from this, Suarez revealed that the citizens of Miami could expect Bitcoin or other cryptocurrencies to be a method of payment for local fees as well as taxes. If this plan is put into execution, Miami wouldn’t be the first American city to do so. Ohio was accepting tax payments in crypto for a brief period.
Furthermore, Suarez stressed another plan which involved the investment of the king coin. The interview read,
“Finally, the city’s treasury might place some of its investment capital into bitcoin, which would be a first for major cities in the United States (and perhaps in the world)”
The Mayor hopes to see a public-private partnership for this move.
Additionally, the Mayor seems to be taking notes from the presidential candidate, Andrew Yang. Suarez announced that he was aiming to finance his reelection campaign in BTC.
Tyler Winklevoss also commented about the same as he took to Twitter and tweeted,
“Miami and @FrancisSuarez are leading the way for governments and #Bitcoin”
Bitcoin was repeatedly being associated with the dark web. The asset’s journey from then to recently quadrupling to $40K was surprising to many. The Mayor pointed out that several have underestimated Bitcoin’s story.