Bitcoin, Economy

Miami’s Mayor welcomes Bitcoin Investment and Crypto Payments

The Mayor of Miami, Florida, has asserted that he is “definitely open to exploring” the thought of investing 1% of the city’s treasury reserves in Bitcoin (BTC).

The Mayor, Francis Suarez, was reacting on Twitter to a challenge from Anthony “Pomp” Pompliano, the Co-founder and Partner of Morgan Creek Digital Assets. They asked followers to retweet his post if they would be prepared to “move to Miami” if Suarez decided to take the bitcoin leap with part of the reserves.

And, in reply to a tweet asking about the possibility of Miami officials “accepting bitcoin as a means for citizens to pay for city services and bills,” Suarez also replied that the city was “definitely going to be working on that in 2021,” adding in his tweet,

Miami, with its community of over 6 million locals, is the third most populated metropolis on the East coast of the United States, and it is the seventh-largest in the country, according to Wikipedia data.

As of September 30, 2019, the City of Miami had almost USD 657m in pooled cash, cash equivalents, and investments, according to its financial report.

Meantime, the Nasdaq-listed Greenpro Capital, a business incubator and the CryptoSX exchange platform operator, has stated that it will launch a BTC fund for investors.

In an official release, Greenpro stated that it would perform its purchase via its exchange subsidiary. Its CEO CK Lee insisted that he had “instructed our investment bankers to raise debt” in the first quarter of 2021 “of up to USD 100 million” to invest in bitcoin.

Lee continued that “the company will also invest its own cash into [bitcoin].”

And there was further good news for altcoin advocates, as Greenpro claimed,

“[We] believe that [BTC] and other top cryptocurrencies such as ethereum (ETH) will provide the opportunity for better returns and preserve the value of our capital over time rather than holding cash.

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