The mayor of Miami is proposing a proposal to pay employees in bitcoin

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Greater Miami Francis SuarezFrancis SuarezMiami Mayor Proposes Proposal to Pay Workers in Bitcoin GOP Mayor of Miami Hits DeSantis for Lack of COVID-19 Restrictions Sunday Show Preview: New COVID-19 Variants Spread in US; Redditors are shaking up Wall Street with Gamestop shares MORE (R) recently proposed a resolution that would allow city officials to choose whether or not to receive a portion of their pay in Bitcoin.

In the draft of the resolution, Suarez also proposed allowing city residents to pay property taxes or city fees in cryptocurrencies, Bloomberg said.

Bitcoin has proven to be a volatile cryptocurrency that can peak or lose more than half of its value in just a month. However, Suarez has said he supports Bitcoin and even plans to have his council manager explore the possibility of investing a “limited amount of government money” in it, Bloomberg reported.

[Miami] is committed to promoting the rise of Bitcoin as it becomes more and more popular

acceptance, ”said Suarez in the resolution.

The resolution will reportedly be submitted to the city’s governing committee for approval on Thursday.

Surarez has some support with the committee in Vice Chairman Ken Russell, who says he is “definitely not against” incorporating Bitcoin into city life, although he said the city’s government should know what it’s up to, reported Bloomberg.

“What needs to be done is diligence, and not just from a legal perspective,” Russell said. “It’s not just a currency, it’s a concept.”

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