The Miami has focused its future on bitcoin through marketing and legislation that will allow Miami to accept bitcoin for tax payments. It appears to be working, in that the cryptocurrency exchange FTX will have naming rights for Miami’s N.B.A. arena if it passes the vote by county commissioners.
Wyoming is also fighting for bitcoin investments so let the battle begin:
“Mayor Francis Suarez of Miami is selling his city as the world’s cryptocurrency capital. “We want to be on the next wave of innovation,” he told DealBook. To make that happen, Mr. Suarez said he was “refashioning” the city’s “fun in the sun” image. Thanks in part to the mayor’s marketing efforts, tech and finance titans have flocked to Miami during the pandemic.
Visions of Bitcoin City. Last month, the Republican mayor suggested Miami pay municipal workers and accept tax payments in Bitcoin, as well as invest city funds in the cryptocurrency. Local officials have agreed to study the proposals. The notion made him popular in the crypto community, advancing his rebranding campaign. His efforts have also won him campaign donations from tech investors, attracted money to cultivate Miami’s burgeoning tech sector and may soon pay a big county bill.”
Overview by Tim Sloane, VP, Payments Innovation at Mercator Advisory Group