Miami mayor praises Bitcoin as ’stable investment product‘ in times of crisis

Mayor Francis Suarez follows the advice of some well-known crypto experts.

Miami Mayor Francis Suarez is the next influential person to publicly praise Bitcoin (BTC), further underscoring the adoption of the market-leading cryptocurrency.

In a related tweet on Thursday, Suarez calls Bitcoin a „stable investment product in a year marked by incredible instability“. To this, he added that he has been educated about the digital currency by prominent crypto experts such as Tyler Winklevoss and Anthony Pompliano.

Both Winklevoss and Pompliano Bitcoin Victory subsequently responded to Suarez’s tweet. Tyler, for example, said he plans to bring the Miami mayor, along with his brother Cameron, a signed copy of their book, Bitcoin Billionaires, the next time they are in town.

Pompliano, meanwhile, said Miami is well on its way to becoming the first „Bitcoin City“ in the US. An idea that another Twitter user also picked up on, suggesting that the mayor should also incorporate blockchain technology into the city’s political life. Suarez does not seem averse to this, as he replied, „We will definitely look into that!“

Francis Suarez was elected mayor of Miami in November 2017 as a non-partisan candidate. Prior to his career in politics, he had worked as a lawyer and was involved in the real estate industry.

Miami is being touted as one of the most interesting hubs for cryptocurrencies in the US, due to the city’s lax regulation and abundant capital. The North American Bitcoin Conference, attended by notable industry figures such as Charles Hoskinson, Roger Ver and Riccardo Sagni, was held in Miami earlier this year.

The current skyrocketing of the market-leading cryptocurrency, driven by increased interest from major investors and corporations, has put Bitcoin back in the spotlight. Adoption of the cryptocurrency is increasingly seen as an advantage in times of crisis and economic uncertainty.