Miami approved payment for services and collecting wages in Bitcoin

Some call it the new Silicon Valley. The mayor of the city of Miami insists it is not.

“This is not the new California, nor the new New York. Miami is Miami and will continue to be so. But The Miami we are creating today is home to financial and tech companies who are fed up with not being valued in other states and drowning in taxes. Our goal is to create well-paying jobs so that our children and grandchildren don’t have to leave Miami in search of good employment opportunities, ”he said. Infobae Francis Suarez, the city’s mayor who led a nationwide campaign to attract new businesses to South Florida.

Although Suarez has been talking about the need to encourage tech companies to relocate to Miami for more than a decade, Miami’s big moment began two months ago with a post on social media Twitter, in which a user declared “Let’s make Miami the new Silicon Valley,” and Mayor Suarez replied, “How can I help?”. The response went viral.

Today, more than 25 companies in the tech and financial industries have moved their operations centers to Miami, creating thousands of jobs. And the trend continues. SoftBank Invests $ 100 Million to Support Tech Companies who wish to open their offices in the city.

In the midst of this city’s financial and economic revolution, Mayor Suarez pledged to transform the city into a 21st century municipality and vowed to incorporate Bitcoin as part of the city’s financial transactions. Yesterday, the committee voted 4 to 1 in favor of Mayor Suarez’s project.

“It was definitely a vote in the right direction. Cryptocurrencies are part of today’s reality, and as a municipality we cannot be left behindSuarez added.

Firstly, the municipality will look for a service provider to help them with their transactionsOnce this contract is approved, city workers can choose to receive a portion of their wages in cryptocurrency, which has so far not happened in any other city. Residents will also have the option of paying for utilities in Bitcoins.

The commission also approved the holding of an education campaign for its residents on cryptocurrencies.so they can make informed decisions. This campaign will be run in English, Spanish and Creole, so no one is left behind. The other decision was to ask the Florida state government to pass legislation allowing municipalities to invest in cryptocurrencies.

The price of a single bitcoin today is around $ 47,000, although it is possible to buy fractions of bitcoin. Over the past year, this cryptocurrency has made a profit of $ 10,000, although its value fluctuates daily.

Miami is not alone in turning to bitcoin. On February 8, the Tesla Company – of the world’s first billionaire Elon Musk – announced that it had bought a billion and a half dollars in bitcoins. Tycoon Michael Novogratz, former president of Goldman Sachs in Latin America, recently assured that estimates bitcoin will be worth $ 100,000 by the end of the year.

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