Miami Might Begin Using Bitcoin

Miami City Hall could begin using Bitcoin.

City commissioners voted to study the use of the cryptocurrency and look for a vendor to help with transactions. If the commission approves, employees would have an option to receive all or part of their salaries in Bitcoin, and the public could have a Bitcoin option to pay for city services.

“It’s wonderful to be a very ‘crypto-forward’ city in the city of Miami, and I want to thank my commission colleagues for allowing that to happen,” Mayor Suarez said.

The city will launch education campaigns in English, Spanish and Creole to inform people about cryptocurrency, and encourage the Legislature to pass laws to allow the city to invest public funds in cryptocurrency.

The price of a single Bitcoin now stands at more than $47,000, after Elon Musk, disclosed it had purchased $1.5 billion in Bitcoin, sending the cryptocurrency’s price soaring.

Photos by Getty IMages