Miami mayor says he bought Bitcoin and Ethereum in March

Miami mayor Francis Suarez said at the virtual Ethereal summit that in early March he bought Bitcoin and Ethereum. He made the decision after the U.S. Senate approved the $1.9 trillion plan to rescue the economy.

In Suarez’s view, people will not want to hold value in U.S. dollars, so cryptocurrencies will continue to rise.

He added that Bitcoin has reached a level of adoption too high to be banned by regulators.

In late 2020, Suarez said he was ‘open to studying’ the investment of 1% of the city’s budget reserves in digital gold.

In February 2021, the official spoke about the possibility of paying salaries to civil servants in Bitcoin. Miami authorities voted to study options for integrating the first cryptocurrency into municipal infrastructure.

Earlier in March, Suarez spoke of a desire to create a Bitcoin mining center in the city. According to him, 90% of miners mine digital gold using ‘dirty energy’ outside the United States.

In May, the luxury boutique condo Arte Surfside opened the sale of apartments in Miami for Bitcoin and Ethereum.

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