As Bitcoin sees an increase in the number of individual and institutional investors, the Mayor of Miami, Francis Suarez, said he is “open to exploring” investing 1% of the city’s treasury reserves in BTC.
The Mayor revealed his plan while responding to Bitcoin enthusiast Anthony ‘Pomp’ Pompliano. In a tweet, Pompliano said:
“Retweet this if you would move to Miami if Mayor Francis Suarez put 1% of the city’s treasury reserves in Bitcoin.”
Suarez’s response came after Pompliano’s tweet generated a lot of reactions from Twitter users. In about two hours after the tweet was posted, it has been retweeted almost 3,000 times.
Bitcoin has been surging and has become more popular among new and existing investors. In addition, Bitcoin holders can now use the asset to pay taxes in some states in the US. CryptoPotato noted in a report that the tax agency in Ohio has approved Bitcoin tax payments. Also, Ohio has partnered with BitPay to convert the tax payments into fiat currency.
Over the past month, the top digital asset has recorded new highs as it continues to surge. At press time, BTC is down 1.57% to $26,669.16.
Image Credits: Pixabay
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