Miami Mayor Unveils Reason Why Miami Is A Upcoming Tech Hub

According to Miami’s mayor, Francis Suarez, the reason the city is an upcoming tech hub is partly due to embracing crypto. The mayor made this statement on Monday in an interview with Maria Bartiromo of Mornings with Maria.

Suarez believes that crypto has played a huge role in facilitating the city’s transition to the most important city in America in financial terms from a city that was just great to visit or retire to. He further adds that Miami’s inclination towards innovation is through crypto. Due to this, the perception that only certain cities of the U.S. are the technological hub has vanished.

Further, Suarez points out that since the adoption of crypto, Miami has seen its venture capital grow by 200% year-over-year. In addition, because of this approach, the city was able to move more than $1 trillion in assets under management companies to its power in the past 16 months.

Miami To Host Largest Crypto Conference

Moreover, Suarez revealed that Miami, after establishing itself as a crypto-friendly city, now hosts Bitcoin Conference, the largest crypto conference.

Miami Beach Convention Center has been selected as the venue for Bitcoin 2022, this year’s event. The event will be conducted between April 7 to April 9. Keynote speakers, including MicroStrategy CEO Michael Saylor, Salvadoran President Nayib Bukele, and Ark Invest CEO Cathie Wood, will be performing their speeches at the conference.

Suarez also revealed that there would be 50,000 attendees, which would help in the economic development boom for the city, earning millions of dollars in economic incentives and generating thousands of jobs for the city.

Suarez Continues To Advocate for Miami To Adopt Crypto On A Broader Level

Suarez continues to advocate for the city to adopt crypto on a larger scale amidst the mayor’s confession of the efforts that are shaping Miami as a crypto hub. He even volunteered to become the first U.S. politician to get his salary paid in Bitcoin(BTC).

In addition to this, he even directed Miami toward launching MiamiCoin (MIA), the native cryptocurrency of the city, that by generating additional yields, aims to fund municipal projects. In just the first three months of going live, MIA generated $21 million in revenue. Looking at this stellar performance, Suarez predicted that the coin is capable of collecting $80 million annually.

Recently, Suarez revealed that due to MIA’s outstanding performance, a digital wallet would make each Miami resident eligible to receive BTC dividends earned through MIA.

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Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing