Miami Mayor Considering Investing Some of the City’s Treasury Reserves in Bitcoin

In a recent interview, Miami mayor Francis Suarez said that his city is looking into “having and holding” a percentage of its treasury reserves in Bitcoin.

Suarez’s comments about Bitcoin during an interview last Thursday (January 14) with Stuart Varney, the host of FOX Business’ “Varney and Co.”

Varney stated the interview by asking Suarez if he was ready to explain why Miami was considering investing in such a volatile asset.

Mayor Suarez replied:

Sure! if I would have done it last year, I would have made 200+ percent. So, I would have looked like a genius, but we want to be one of the most crypto forward and technological cities in the country. So, we’re looking at number one, creating a regulatory framework that makes us the easiest place in the United States to do business if you’re doing it in cryptocurrencies…

We’re looking at laws from Wyoming, Wisconsin, and New York… and we have a tremendous amount of interest in tech right now. So, we’re looking at a variety of things from being able to make payments in crypto, in Bitcoin in particular, being able to your taxes, being able to pay fees to the city, and then yes we are looking at the possibility of diversifying our investment portfolio, and having and holding a percentage of our investments in Bitcoin.

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