A ‘Make money with Charles Payne’ panel on investing in names of the future and bitcoin.
Miami Mayor Francis Suarez praised the city’s governing commission for passing a resolution on Thursday that will study the feasibility of paying employees in bitcoin, as well as allowing residents to pay fees and taxes in bitcoin.
“I want to thank the Miami City Commissioners for supporting my resolution, which guides the municipal administrator, after review, to hire a supplier to be able to offer our employees a percentage of their bitcoin salary, allowing our residents to pay for Bitcoin fees. … [and allows] for taxes to be paid in bitcoin, “Suarez said in a video on Thursday night.
“It is wonderful to be a very ‘advanced’ city in the city of Miami and I want to thank my colleagues on the committee for allowing this to happen.”
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The City Commission voted 4-1 to pass the resolution, which would also encourage the Florida legislature to pass laws that would allow Miami to invest part of its treasure in bitcoin.
“The whole concept of Bitcoin is to democratize a currency,” said Ken Russell, vice president of the Miami City Commission, during the town hall meeting on Thursday. “It has become a currency for the rich. I think this is our chance to intelligently try to take this to our residents and employees, but we have to do it carefully so that they can make informed decisions. “
Bitcoin, a decentralized cryptocurrency, hit a record high of $ 48,912 this week, but is still subject to major price swings.
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Despite these fluctuations, the adoption of bitcoin in Miami is the latest sign that it is becoming popular.
Andrew Yang, who is running for mayor of New York City, said on Thursday that, if elected, “he will invest to make the city a center [bitcoin] and other cryptocurrencies. “
BNY Mellon, America’s oldest bank, announced on Thursday that it will create an “integrated service for digital assets” this year that will process bitcoin and other cryptocurrencies for customers.
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Mastercard said on Wednesday that it will support cryptocurrencies directly on its network, which “will create many more possibilities for buyers and merchants, allowing them to carry out transactions in an entirely new form of payment.”
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Tesla announced on Monday that it had invested $ 1.5 billion in bitcoin and would start accepting the cryptocurrency as payment.
“At this point, I think bitcoin is a good thing and I am a supporter of bitcoin,” said Tesla CEO Elon Musk on January 31 at the Clubhouse. “I think bitcoin is about to get widespread acceptance by mainstream finance people.”