- Oct 25, 2021
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Pro-Bitcoin Miami Mayor Plans to Convert a Portion of His 401k Into Crypto
Miami mayor Francis Suarez is a big fan of bitcoin (
Last month, Suarez
“I just think it is a good asset to be invested in. I think it’s one that’s obviously going to appreciate over time. It’s one that I believe in,” Suarez said. Burke asked the Miami mayor if he would invest his 401k in bitcoin next year and Suarez replied, “Oh yeah! Definitely.” The Miami mayor further added:
Blockchain has succeeded so well because people have confidence in it. They have confidence in it because they see that it’s an open-source and an un-manipulatable system. And I think that is the source of the popularity and why it’s done so well.
Suarez Discusses Obtaining a Crypto Yield From Miamicoin, Paying Municipal Fees in Bitcoin
Suarez explained last month that Miami residents may soon get access to a “bitcoin yield” that stems from the city’s own crypto-asset called “Miamicoin (MIA).” New York City also has its own coin called “NYC” and both NYC and MIA can be mined. The Miami mayor also told Real Vision’s managing editor that Miami residents will soon be able to pay municipal fees in
“We just had an industry day for bitcoin exchanges, and we’re in the process of putting out an RFP (request for proposal) on that,” Suarez remarked during his interview. The Miami mayor told Burke that because he has income stemming from the private sector it gives him the right to invest his 401k in crypto. “I do have private-sector income,” Suarez concluded. “So, in fairness, my mayoral salary is not 100% of my income. So it’s a part of my income I can do this type of investment with.”
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