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Miami Mayor All Set to Add Bitcoin to the City Reserves

In a new episode of crypto news tabloid Scoop, Miami mayer and Ethereum creator Vitalik Buterin have come forward with a remarkable proposition. The mayer of Miami, Francis Saurez, was interviewed remotely and joined by Buterin on this virtual interview a few days ago. Suarez and Buterin told the tabloid that they have made plans for the Florida city’s ultimate crypto transition. 

Saurez has shown concerns about the approaching hurricane season that brings about millions of dollars worth of damage in its wake. He is planning to follow in the footsteps of central metropolitans of the United States and wishes to create a better economic condition for the residents of the city. Buterin has endorsed this idea and agreed to start an Ethereum transition of the city services of the city.

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Multiple facets of the Saurez decision to start a crypto transition of the city were discussed in the interview. It should be noted that Suarez has already told FOX business news in an interview about his blockchain economy ambitions back in January. In his recent interview, he further added that a crypto-based economy could help create jobs in Miami.

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He also believes that Miami’s real estate industry has a better chance of exposure through decentralized systems. Suarez says that he wishes to convert his city into one of the most crypto-savvy places in the country to invite the biggest players in the mix to come to the city and enjoy various services. By adding crypto technology to the mainframe of the city, it would join the likes of Wyoming, Wisconsin, and New York, where crypto regulations are boosting. 

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The mayor of Miami has kept maintaining the statement that if he had added Bitcoin a year earlier, there would have been a gain of 200% in the city reserves, and he would have been called a genius. He does not intend to waste any further time on the city’s crypto transition and wants to get started on the Ethereum transition as soon as possible. He envisions the residents being able to pay their taxes and other city fees with Bitcoin.

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While he also acknowledged the scalability issues with Ethereum and the king coin’s volatility, he still wants to go ahead with the project. Suarez told the media that Bitcoin has a limited supply, which means that its price will climb up in the future. He further added that the city officials are looking to diversify their investment portfolio and hold a decent percentage of their investment in BTC by staking some of the city’s reserves in the digital asset. 

Hassan Mehmood (Saudi Arabia)

Hassan is currently working as a news reporter for Tokenhell. He is a professional content writer with 2 years of experience. He has a degree in journalism.

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