Bitcoin could soon be the currency of choice in Miami.
Florida City Commissioners are pondering whether or not to give government officials to receive their salary, or any portion of it, in Bitcoin and whether they should allow the public to use the cryptocurrency to pay for city services, the government said. Miami Herald. .
Mayor Francis Suarez, who’s trying to turn Miami into a tech hub, is ready to go all-in with Bitcoin, but commissioners voted late Thursday to first study the use of the virtual currency and find a supplier who could help with transactions before continuing. , said the outlet.
“It’s great to be a very crypto-forward city in the city of Miami, and I want to thank my colleagues on the committee for making that happen,” Suarez told the outlet.
After a lengthy discussion and questions about Bitcoin, the commissioners agreed to postpone 4-1 before completing an analysis of the futuristic currency, believed to be a safeguard against a failing dollar.
Commissioner Joe Carollo isn’t convinced – he voted no on the measure, the outlet reported.
“I think the mayor has done a great job with that, and his intentions come straight from the heart,” said Carollo.
“That said, I can’t drink Kool-Aid on this.”
Miami will begin launching public awareness campaigns in English, Spanish and Creole to educate residents about cryptocurrency, while lobbying the state legislature to pass laws that will allow the city to invest public dollars in the highly volatile cryptocurrency.
Bitcoin’s daily price swings continue to drop and peak in the thousands. It floated just below $ 48,000 a share late Friday, but the public can buy cuts of a share.