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Technology Miami's mayor wants to bet on Bitcoin

17:44  12 february  2021
17:44  12 february  2021 Source:   t3n.de

cryptocurrency: Bitcoin rally continues - price just over 33,000 dollars

 cryptocurrency: Bitcoin rally continues - price just over 33,000 dollars The digital currency is on a high. Since the beginning of the new year, Bitcoin has risen by another 4,000 dollars, or 13 percent. © dpa Bitcoin is the oldest and by far the best-known digital currency. The digital currency Bitcoin continues its record hunt in the new year. On Saturday evening, the Bitcoin price on the Luxembourg trading platform Bitstamp rose to $ 33,099. Bitcoin could not quite maintain the level, but was only just below it at $ 32,750.

If Francis Suarez has his way, Bitcoin will soon become a means of payment in Miami. The mayor wants to use the cryptocurrency in many areas, including paying wages.

In Miami könnte der Bitcoin zum Zahlungsmittel werden. © Jaruwan Jaiyangyuen / shutterstock Bitcoin could become a means of payment in Miami.

The plans are far-reaching and quite unusual for a public-law municipality: Miami's Mayor Francis Suarez was able to push through a resolution on his administrative board, known as the Commission in the USA, that would help Bitcoin in Miami to achieve a position similar to the US dollar . This is reported by Bloomberg .

If it comes to Suarez, city officials could choose in the future whether they want to receive their remuneration in whole or in part in the crypto currency. Citizens could pay administration fees and local taxes in Bitcoin. In addition, Suarez suggests investing part of the community's assets in Bitcoin.

cryptocurrency: Bitcoin falls below 30,000 US dollars

 cryptocurrency: Bitcoin falls below 30,000 US dollars © picture alliance / dpa / MAXPPP | Alexandre Marchi At the beginning of January the digital currency still reached its record high, now Bitcoin is continuing its price slide. Two points could be responsible for this. The recent setback of the digital currency Bitcoin widened before the weekend . Bitcoin fell below the $ 30,000 mark on Friday for the first time since the beginning of January. In the low, the cryptocurrency was 7.7 percent in Asian trading to around 28,800 dollars.

Legal framework could cause problems

Before the proposed measures can be taken, the city administration should, however, carry out extensive analyzes. The members of the administrative commission want to prevent slipping into a potential disaster. After all, the of the Bitcoin has repeatedly proven to be extremely volatile.

The investment rules of the US state Florida could also prove problematic. They put together a tight belt of rules for municipal investments in financial products. The aim is to protect public assets from being gambled away in overly volatile assets.

Suarez is technophile

Francis Suarez does not contest that. He has been courting companies from Silicon Valley for months and wants to be seen as a progressive administrator who is fundamentally positive about new technologies. The fact that he is up for re-election this year could also play a role.

Suarez made the leap into international coverage only a few days ago when he announced that would build a tunnel under the Miami with Elon Musks Boring Company. Musk had given him a price that was 97 percent lower than his own administration's project estimate.

Why Are Bitcoin Supporters Giving Themselves Laser Eyes? Wyoming Senator Joins Trend .
It's not entirely clear where the meme started, but it's spread quickly among crypto holders.One of the people who appears to have caught many people's attention by adding glowing red over her eyes was Wyoming Senator Cynthia Lummis. The Republican's profile photo seems relatively normal save for the red laser eyes seemingly pasted over her own. A Daily Beast reporter tweeted that a Lummis staffer said that it was "a cryptocurrency thing," but did not expand on what exactly it meant.

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