Bitcoin

Miami Mayor says Bitcoin is a „stable investment“ during an unstable year

Mayor Francis Suarez is learning about Bitcoin from the Winklevoss twins and Anthony Pompliano.

Miami Mayor Francis Suarez is the latest high-profile figure to promote Bitcoin (BTC), offering more evidence that adoption is growing.

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In a tweet Thursday, Suarez called Bitcoin Lifestyle scam a „stable investment“ during an „incredibly unstable year,“ adding that he’s learning about the flagship digital asset through the likes of Tyler Winklevoss and Anthony Pompliano.

Great insight into how @Bitcoin has been a stable investment during an incredibly unstable year… currently reading Bitcoin Billionaires @tyler. @APompliano any other good reading?

Winklevoss and Pompliano responded to Suarez’s tweet. Tyler said he and his brother Cameron will take a „signed copy of Bitcoin Billionaires,“ a book written about the twins, to the mayor of Miami, while Pompliano promoted Miami as a future Bitcoin city.

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Earlier today, Suarez indicated that his administration is exploring the idea of Miami becoming the first crypto-focused government in the country. „Absolutely exploring that,“ he said in response to a tweet. No further details were provided.

Absolutely exploring that.

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Suarez was elected mayor of Miami in November 2017 after running as a nonpartisan candidate. Before entering politics, he worked as an attorney and also founded a real estate title company.

Miami has been described by some media as one of the most crypto-friendly cities in the United States due to lax state supervision and the influx of foreign capital. The North American Bitcoin Conference, which featured names such as Charles Hoskinson, Roger Ver and Riccardo Sagni, was held in Miami earlier this year.

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Bitcoin’s explosive rebound this year, driven in part by corporate and institutional adoption, is creating new conversations about digital assets. Bitcoin adoption is increasingly seen as a competitive advantage in an economy affected by financial instability, asset price inflation, and record central bank intervention.