Miami News

Miami Races to Become Cryptocurrency Capital of the US

A fictitious imagining of Bitcoin as physical currency.

Cryptocurrency is helping to propel us into the future, and Miami wants to take the opportunity to be a leader in this change

Bitcoin Miami currency 1280x961 - Miami Races to Become Cryptocurrency Capital of the US

Miami is gunning forward to becoming the cryptocurrency capital of the US, encouraging different ways to incorporate, cryptocurrency into the current social structure, making it commonplace for businesses and individuals alike.

More recently, the city hosted Bitcoin 2022, a conference that has been highlighting the fintech future for Miami. CNBC's Kate Rooney did an extensive report on the subject and other outlets and journalists as well.

Kate Rooney's coverage of Miami's cryptocurrency growth

Kate Rooney sat down with Miami locals, including Mayor Francis X. Suarez, who is a leading visionary in this push toward cryptocurrency, and had a discussion about the value of this decision.

Admittedly, cryptocurrency has some kinks that still need to be worked out, with widely fluctuating rates and values and mainstream use and acceptance issues. However, people like Mayor Suarez are working to change that narrative in lieu of its incredible potential as a finance and tech-related development. In fact, he also accepts his pay in cryptocurrency.

Rooney also spoke to people like Jack Abraham, a startup founder who moved his headquarters from Silicon Valley down to Miami. Abraham shared some interesting insights on how Miami is growing and brimming with opportunity.

coins currency hand 1182x1280 - Miami Races to Become Cryptocurrency Capital of the US

Miami's efforts toward Cryptocurrency growth

Miami has been paving the way for cryptocurrency growth in the city, incentivizing businesses, hosting conferences, educating the public about crypto, and supporting those in fintech to migrate and operate out of the city. They're hoping to turn Miami into the next Silicon Valley, and it seems to be working despite hiccups along the way.

Miami even has its own currency, the MiamiCoin, which has plummeted in value, but as Mayor Suarez says, this is the way of the future. Miami is innovating and leading the way, and when this pays off, we will become the cryptocurrency capital of the currency.

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