Miami: The Bitcoin Hub
Summary
Miami Seeks to Integrate Bitcoin Into the Local Economy
Bitcoin Entrepreneurs Are Moving To Miami
Bullish Signal for Bitcoin and the City of Miami
Background
Bitcoiner,
I am visiting Miami, Florida for the first time of my life at the moment. As I type this article in the hotel I am staying in, I could not be happier to see all the pro-bitcoiners flaunting their Bitcoin T-shirts on the sidewalk. Let’s dig into what exactly Miami is up to regarding Bitcoin.
On February 11th, 2021, Francis Suarez, the 33rd Mayor of the City of Miami, announced the city is studying various ways to integrate Bitcoin into their local economy.
Some of the Mayor’s proposals include:
Allowing citizens to pay local taxes in Bitcoin
Paying employee salaries in Bitcoin
Investing a portion of Miami’s treasury into Bitcoin
With the help of the Mayor and other pro-bitcoin citizens in the area, Miami is quickly becoming the Bitcoin hub of the United States. The mayor’s announcement to propose integrating Bitcoin into the local economy is the first of its kind. If successful, expect other cities in the United States to follow in Miami’s footsteps.
Quick Story
Today is my first official day in Miami, Florida. I went on a long walk this morning and stopped to workout at Muscle Beach in the heart of South Beach, Miami.
While working out, I saw someone wearing a Bitcoin T-shirt also working out nearby. I was so excited. I yelled at him to get his attention. I had the biggest smile on my face and pointed to his T-shirt. He smiled back and gave me a thumbs up. The Bitcoin friendly atmosphere I was hoping for was reaffirmed.
Why is this Important?
Miami’s pro-Bitcoin approach to their local economy is important for two main reasons:
It is an experiment that will lead to Bitcoin’s mass adoption at the local government level.
Many Bitcoin entrepreneurs will flock to Miami.
Starting with the first point, Mayor Suarez’s recent announcement is that the city will begin studying pro-Bitcoin proposals. This is the first step to integrate Bitcoin into the local ecosystem. After some time goes by, the leaders of Miami will see the potential of Bitcoin and how it can help the local economy. Investments into Bitcoin will be slow initially, but over time will grow much larger.
Fast forward some more time and other cities will begin to realize the potential of Bitcoin and its positive impact on localized economies. Other cities will follow in Miami’s footsteps. Can you imagine if New York City adopts Bitcoin? Well, the possibility of that is already happening. As more cities realize Bitcoin’s potential, the price of Bitcoin will continue to rise.
Now let’s address the second point.
Cities tend to thrive when their economies are booming. Local economies tend to boom when entrepreneurs create widespread high-skilled job growth. Bitcoin is the innovation of the 2010s and its potential is now only beginning to be realized in the 2020s. Miami is strategically welcoming entrepreneurs all over the world to start new businesses in Miami by embracing Bitcoin. As more entrepreneurs innovate within the Bitcoin ecosystem, the value of Bitcoin will be increasingly realized. I think you can guess what will happen to Bitcoin’s price over time as innovation takes place.
Time to go soak in the Miami sun. Cheers!
Happy Friday,
-Pod
BUY BITCOIN RIGHT NOW
I personally use Swan Bitcoin to purchase Bitcoin! Use the link below to get $10 free dollars worth of Bitcoin.
If you find any value in The Bitcoin Letter, please subscribe and tell a friend. By subscribing, you will be sent easy to understand information about Bitcoin along with any relevant news daily. That’s it. IT IS FREE AND I WILL NOT SPAM YOU!
Eric Podwojski
Founder, Bitcoin EDU
Twitter: @epodrulz