Bitcoin and the entire crypto world continue to gain momentum thanks to the support of various actors, including institutional ones, including states and regional governments. In a recent interview with the New York Times, Francis Suarez, the mayor of Miami, said his administration is working hard to make the city the digital asset capital of the world.
The mayor said his administration wants to be part of the next era of technological innovation in what appears to be a strategy for selling Miami as the best crypto-city ever.
The road to becoming a Bitcoin Hub
A couple of months ago, Francis Suarez proposed that the municipality accept tax payments and process his employees' payments in Bitcoin. The mayor further encouraged his administration to invest in BTC and other cryptocurrencies. This move showcases Miami's rebranding campaign and has also increased the mayor's popularity within the crypto community.
His proposals seem to have won both the gallantry of local officials, who strongly support the idea, and the technology investors who commit to donations for the campaign. Suarez's point of view also prompted capitalists to hone Miami's dreams to become the world's leading Bitcoin hub.
In the recent past, Miami has seen a growing movement of people and developments are taking shape. All while BTC continues to gain value and credibility among institutions. What a perfect opportunity for Mayor Suarez and his administration to steal the show!
“People come here and start realizing that there are a lot more tech talents than they thought,” said Francis Suarez.
However, Miami still shows some gaps
What seems to be missing in Miami to become a major crypto destination in the world and thus achieve its goal, are regulatory strategies. According to its mayor, the Florida lawmaker is working on several cryptographic policies.
On the other hand, Suarez's proposal will not be realized unless there is evidence that people are moving to the City on a lasting basis and that their interests in BTC will progress over time.
So far, Miami has attracted several cryptocurrency "interested". FTX, a popular cryptocurrency exchange, is now seeking naming rights for Miami's American Airlines Arena.
The agreement is in the pipeline, pending the vote of the county commissioners next Friday. Suarez believes that attracting cryptocurrency enthusiasts like FTX is critical to Miami and its goal of becoming a cryptocurrency hub.
So, another day in which a formidable player joins the interest in the world of cryptocurrencies and bitcoin. Evidently, the growth forecasts of the quotation of BTC and all other altcoins, they are not based on nothing.
On the other hand, sector specialists have been saying it for weeks: the coin will reach 100k dollars by the end of the year.