Miami Mayor Francis Suarez reveals on the talk show “Mornings with Maria” that he believes crypto is one of the prominent reasons why the city has “completely leaned into innovation” and established itself as a major tech hub in America. According to Suarez, crypto is part of Miami’s transitory identity from a fantastic place for vacation to America’s most vital city.
Suarez further stated that since adopting cryptocurrency, Miami’s venture capital has increased by 200% this year. Furthermore, during the last 16 months, this method has assisted the city in bringing over $1 trillion in assets under management businesses under its jurisdiction.
Suarez advocates for Miami to adopt crypto
Suarez’s disclosure of crypto is an initiative that is assisting in the development of Miami as a major tech hub, centre as he continues to advocate for the city to embrace crypto on a larger scale. As part of his efforts, he agreed to become the first US lawmaker to be paid in Bitcoin (BTC).
In addition, he guided Miami toward the introduction of MiamiCoin (MIA), the city’s native cryptocurrency that aims to support municipal initiatives by earning extra profits. MIA made $21 million in revenue in the first three months of operation. Based on its performance, Suarez said that the currency had the potential to earn $80 million per year.
Miami host Bitcoin Conference 2022
Suarez emphasised that Miami now organises the largest crypto conference, the Bitcoin Conference, after establishing itself as a crypto-friendly city.
This year’s event, Bitcoin Conference 2022, will be held at the Miami Beach Convention Centre. The event begins today and will go through April 9. Key speakers include Salvadoran President Nayib Bukele, MicroStrategy CEO Michael Saylor, and Ark Invest CEO Cathie Wood, among others.
Suarez remarked on the event and stated:
“They expect 50,000 people to attend, and it will be a boon to their city’s economy, providing thousands of jobs and millions of dollars in economic incentives.”
