Miami will soon be able to pay its officials in Bitcoin…

Miami will soon be able to pay its officials in Bitcoin...

The American city intends to extend this policy by also allowing residents who wish to do so to pay their local taxes with this cryptomony.

It wishes to make it a pioneer city in the field of cryptomoney. The mayor of Miami recently made a bold proposal: to give city officials and municipal employees the opportunity to receive all or part of their salaries in Bitcoin. A resolution to this effect was recently passed by the city council.

Francis Suarez obviously does not intend to stop there. He has also proposed to allow city residents to pay their local taxes, including property taxes, in Bitcoin. The city could, in turn, invest some of its cash in this cryptomony. Other digital currencies could eventually be used, Bloomberg notes.

A promising currency

A promising currency

With this announcement, Francis Suarez is in his own way seizing the renewed interest in cryptomoney and the sharp rise in the most well-known of them in recent weeks. Bitcoin, to name but one, has benefited greatly from an announcement made by Tesla. Elon Musk’s company invested $1.5 billion in this digital currency in January, the largest investment ever made by a private company.

Nevertheless, the price of this currency remains particularly volatile. In recent weeks, it has risen sharply. It rose from 24,100 euros on 1 January to more than 39,000 euros on 12 February, following a series of positive announcements, an increase of nearly 61% since the beginning of the year. Francis Suarez says he would like to study how the risks associated with this volatility could be dissipated.

Francis Suarez also intends to use this cryptomony to strengthen the attractiveness of his city, and to take advantage of the desertion of major historic tech cities, including San Francisco, to bring talent and companies in the sector to Florida.

Miami will soon be able to pay its officials in Bitcoin…
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