Miami Mayor Pushes for Miami as a Crypto Hub, How Does Bitcoin Miami 2021 Factor in?

Miami is setting itself up to become the go-to Bitcoin and crypto city in America.

By
Ahamdi Abarikwu
on
June 6, 2021
Category:
Blockchain News

A Pro-Bitcoin Mayor

Miami has a Pro-Bitcoin Mayor that has continually called for various Pro-Bitcoin practices to be carried out in the city. Suarez has aided in the proposal for an attractive initiative to the Bitcoin community.  

Miami Mayor - Mayor Franscis Suarez | Source

In an interview with Laura Shin, the Mayor have called for Miami to become the mining center for obvious reasons;

  • The bulk of the energy used in current mining cities and locations in the world away from the USA is from dirty energy sources.
  • Mining activities within the US, preferably Miami, will help Protect the current national security.
Suarez had said he would love for the Magic City to become a Bitcoin mining hub to rein the city’s nuclear power capability, “a clean energy supply that’s essentially unlimited.” 

And with cleaner energy coming in the future, hydrogen and solar fuels, mining will become much more efficient, cleaner, and cheaper. Thus, there would be further improvement in the technology, including how transactions are confirmed.

In February, the mayor also proposed to have the city officials receive payments in Bitcoin and residents options to pay for goods and services in Bitcoin. However, the proposals have been met with opposition from the county commissioners, who are still studying them.


Bitcoin 2021 Massive Conference

So here you have it, a pro-Bitcoin Mayor on the positive side of the technology propelling the initial center of the Bitcoin conference from California. This was due to the strict Coronavirus Pandemic laws in Miami.

Billionaire Tech Founder Jack Dorsey in Bitcoin 2021 | Source

The conference had some notable key figures in the cryptocurrency and Bitcoin world, including Jack Dorsey, Twitter Co-founder and owner of Square, a payment platform, the Winklevoss Twins founders of Gemini Exchange, and the Mayor of Miami Francis Suarez, who opened the event.

Miami opened its door to thousands of Bitcoin enthusiasts who have descended on Miami for a massive two-day conference. This is a sign that the US city, amid a tech boom, is hoping to become the next cryptocurrency center.

In his speech to the 12,000 strong Bitcoin enthusiasts that grace the occasion, Jack Dorsey believes that in his words; "We don't need the financial institutions that we have today. We have one that is thriving, that is sound, the community owns that, the community drives that."

The event saw various industry members from crypto mining companies, crypto traders, and Bitcoin exchange networks. It presents another opportunity for Miami County officials, including the Mayor and the commissioner, to market Miami to the rest of the world. County commissioner Danielle Cohen Higgins, who showered Bitcoiners with praises, said a task force is possibly creating a hub for the Bitcoin industry—enticing the community with pro-Bitcoin government initiatives. This could include creating a campus for the Bitcoin industry.


Miami May Become the Hotspot for Crypto Activities

These pro-Bitcoin stances and the increasing positive energy of the Miami top officials are beginning to drive interests from various industry players. Like Blockchain.com, a New York Headquartered company planning to move its business to the magic city of Miami; they aim to hire 300 full-time employees by the end of next year.

Miami City | Image Source

In another news venture capital firm, Borderless Capital, announced it was moving its headquarters from Atlanta to Miami and launching a new $25 million fund for local startups using blockchain technology.

That’s not all; the commissioner pointed out that the NBA franchise - Miami Heat - is now sponsored by cryptocurrency exchange FTX, co-founded by Sam Bankman-Fried and Gary Wang in 2019. Costing FTX exchange a fee of $135 million, the Heat’s stadium recently became the “FTX Arena” following the close of a 19-year deal.

And the creation of the MiamiCoin launched by the Mayor - a Miami-specific cryptocurrency that will allow investors to boost the city's coffers while making money themselves.

“This is not a moment. This is a movement” - statement credited to the Mayor on Friday’s opening of the Bitcoin Conference.


Final Thoughts 

While the city has been pro-cryptocurrencies with government initiatives and officials, who are tilted towards favoring the Bitcoin economy, there seems to be a bit of concern from some of the city’s voices regarding taking care of the many possible pitfalls of the city embracing all things crypto.

This includes a boom and bust cycle that could take down the city along with the wave. However, the Mayor is still pushing for Miami to become the Hub for crypto activities in the country, and the Miami 2021 Bitcoin Conference has affirmed that.

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Ahamdi Abarikwu

Ahamdi Abarikwu is an Electrical Engineer and a lover of anything crypto. He is also an avid writer, proofreader and editor. He loves to play Scrabble in his spare time.

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