Miami authorities weigh allocating 1% of city budget to Bitcoin

Miami Mayor Francis Suarez said he was “open to exploring” the possibility of investing 1% of the city’s budget reserves in Bitcoin.

The statement followed a post by Morgan Creek Digital co-founder Anthony Pompliano, who had previously urged users to retweet his message if they would move to Miami should part of the treasury be diverted into the first cryptocurrency.

Retweet this if you would move to Miami if Mayor @FrancisSuarez put 1% of the city’s treasury reserves in Bitcoin.

— Pomp 🌪 (@APompliano) December 29, 2020

The post racked up around 1.2 thousand retweets and drew Suarez’s attention, who welcomed the idea.

Definitely open to exploring it.

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

Back in 2020, the Mayor of Miami described Bitcoin as a stable investment and said he planned to place South Florida at the forefront of crypto-friendly legislation.

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