Bitcoin Forum

There are continuous number of higher official of the government that want to venture in BTC and one of those is the MIAMI Mayor Francis Suarez. 
In a FOX Business interview, he told that "I would have looked like a genius." if they tried to invest in to bitcoin on the previous months which return in a 200% increase.
Furthermore, he told that he aim that MIAMI to be the "most crypto-forward and technological cities in the country,"

Base on this article https://www.foxbusiness.com/technology/miami-mayor-bitcoin-invest-cryptocurrency

From the source you have quoted:

"The mayor told host Stuart Varney that Miami is looking into allowing citizens to pay taxes and fees to the city in bitcoin."

I think this is the most relevant of that interview. Someone bullish on Bitcoin, OK, it's the norm these days, but a mayor considering accepting the payment of taxes is not at all usual. I hope that they do implement it. And that many more will follow.

It's not that unusual. The state of Ohio actually started accepting (through BitPay) bitcoins for tax payments in 2018 -- although they pulled the plug a year later (https://thenextweb.com/hardfork/2019/10/03/ohio-suspends-bitcoin-tax-payment-system-no-one-cares-ohiocrypto/) on the technicality that the tax board violated the competitive bidding process for state contracts.

A few Swiss cities and towns have begun accepting bitcoins, and the canton (province) of Zug is following suit this year (https://apnews.com/article/financial-markets-technology-europe-de66352be124548602481d3e88e2d4ff).

As far as relevance goes, it depends on your interests. Some cryptocurrency media outlets are reporting that the City is planning to allocate up to 1% of its reserves into bitcoin, but I can't locate the primary source for this claim. If true, that could represent a lot of money entering the Bitcoin market. For investors, that's a big deal.

More to the point, I suppose the very idea of governments investing in bitcoin is a big deal. I don't think that's ever happened before. We've seen governments seize bitcoins and auction them off -- they generally don't keep them. Norway's sovereign wealth fund invested in MicroStrategy, who is invested in bitcoin -- obviously not the same thing as buying bitcoins themselves.

The problem with this one though is that bitcoin is not yet widely adopted which can be difficult for public works to get funded because some suppliers, service provider and manpower will not be all in favor of getting paid in bitcoin. I hope that they have a plan behind this bold claims of paying taxes through bitcoin. My point is that this will be difficult if the taxes are to be circulated nationwide.

I remember that in my country the government, especially the highest ranking officials, have secretly invested in Bitcoin, when Bitcoin reached its highest price yesterday, they did not hold back and said it on their personal Twitter, this is amazing, people do not believe what is happening and what they see as in a dream, strangely the official was once against crypto, especially Bitcoin, in fact he is the one who invested in Bitcoin.

For now in my country it is in the form of an official law and does not prohibit Bitcoin users anymore, especially crypto users, So we don't think about the Bitcoin ban going forward, we're just running and investing as much as we can.

I hope that what the Miami government says will be positive things for the future in terms of economy, law, etc. for the Miami community.
I hope the governments of other countries who are opposed to Bitcoin can take an example from the current Miami government, for the prosperity of their society.

The only reason I think that the successor will not follow up with the project is that they hate or strongly oppose or they want to piss off the predecessor and they are an irresponsible administration, I mean, if it will be good for the city as a whole then it really doesn't matter how many administration will that project take because the benefit will always outweigh the risks and the hard work involved in that project. I hope that this will uphold because I believe that it is a good thing.

If that is, do you think guys that the current administration under Biden will support the crypto world and make it step into a higher level?

It's still 50:50. Biden is still on the beginning of his term and there will be a lot of talks to go but whatever he says, it will be done. But if we'll take into consideration of one related halt he did to cryptocurrency.
I guess it's a good head start to say that it's in favor of crypto but not totally until it's all finalized and announced that we know that he's with us.

can i know why them pulled the plug i mean start accepting bitcoin is good thing right. and they are using Bitpay and the system usually automatic converting bitcoin into fiat (CMIIW)

We have seen how much the Cryptocurrency market has changed today, so I think this is one of the things that has helped to make it even stronger, especially of course Bitcoin. Maybe at the beginning of this announcement by the Mayor on Jan 14, the residents especially the officials are probably started immediately joining crypto investments. If the population is large here, it is helping to develop the Crypto Market and does not even include other areas that may be attracted by this news.

An interesting trend. Mayors of cities, governors and then leaders of entire states will begin to openly declare investments and legalization of cryptocurrencies on their territory. In my opinion, we are at a historic stage when cryptocurrencies will finally take over the world. The main thing is new opportunities that open up for people.

Okay lets go back into the time on where bitcoins price isnt really that high and on the time this news was published then they are definitely reaping off some profits now
or increase into those government funds that they had converted out to crypto.This was indeed a risky call since its government money and shouldnt really be put up
in risk in making it as a form of investment.Its just that such decision did really pay off because of the sudden bull run that we are experiencing.
hopefully those gains will be really applied into the right path or projects and not would really be corrupted.

i remember the day, November 24, 2015, when https://bitcointalk.org/index.php?action=profile;u=662950  milewilda (217) was created, or farmed, https://bitcointalk.org/index.php?topic=1670807.0

now giving legal advise on bct, very sad really

How long will we watch this gold rush suck in more and more profit-seeking investors as the price rises? I think any person understands the feelings of this mayor. If he could invest part of the budget in cryptocurrency at least in the summer, he would receive more than 200%. It is a pity that he did not win this lottery. :)

We can consider the mayor a well-informed mayor when it comes to investment and what is the latest technology buzz nowadays, that's very encouraging for his constituents, the mayor knows what is the future and he makes it known to his constituents that he is in support of this technology, with this statement, it will open many business and groups related to Cryptocurrency in the city of Miami.

Any official of such magnitude as the mayor of a large city in a developed country must keep his finger on the pulse of the modern economy and new investment instruments. It is logical that this trend is strengthening and I am sure it will be so in the future. It's pretty funny to watch how in some countries officials are arrested with huge houses filled with cash that officials and other civil servants receive in exchange for bribes. A modern official is one who declares income from cryptocurrency and does not hesitate to invest budget funds in bitcoin and other alternative currencies. Citizens do not care where new schools and roads come from.

So you do say that Mayors who havent make any actions or totally oppose or ban bitcoin are not well-informed? No they arent but they do have different view and opinion in mind because not all

would really be having the same view and give out some positive impression and did accept it which is really an advantage to those citizens who had been actively engaged with Bitcoin.

This is a small step but gradual recognition is always a good thing because we would really be going full scale towards adoption.This will be an eye opener to other Mayors on residing state
and even on other neighboring countries that it isnt impossible for some country to accept Bitcoin.

It is good to see at least one official encourage investing in Bitcoin, this is really good, government officials always oppose Bitcoin and say bad things about it such as that it is used for money laundering or to support terrorism or tax evasion, they have always been trying to ban its use but I am sure There will come a day in the near future when these officials will know their mistake and new governments will come to know the real value of Bitcoin and encourage its use.

Since the news came out on January 19, I think the mayor has already made a decision and invested money. If this happened in January, then it is easy to imagine how much profit the mayor and the budget of the city of Miami received. If he still thinks he is not sure that such a decision will be correct. The point of entry into the market for bitcoin and alternative cryptocurrencies is of great importance, especially if we are not talking about private investments, but about state or municipal finances. But the news itself is positive and keeps up with the trend for the participation of such people in the community and the market as a whole.