The Mayor of Miami is at the convention.
Joe Raedle is a photographer.
The mayor of Miami is looking to take some of his retirement savings in the digital currency, which he has already started using.
According to RealVision, he told them on Friday that he will be using the token to make payments to his 401(k) by next year.
It's a personal decision. He told Real Vision's managing editor that it was a good asset to invest in.
It's going to appreciate over time. It's one that I believe in.
The mayor of Miami uses an app called Strike to get his salary. He said in November that he would have 100% of his next paycheck in cryptocurrencies.
In his push to make Miami a center of digital innovation, he has banged the gong for the digital currency. New York's mayor Eric Adams wanted his first three paychecks to be in digital currency.
The mayor told Real Vision that part of the reason he can receive some of his money is because he is allowed to make money outside of his job.
I have private-sector income. My salary is not 100% of my income. It's a part of my income that I can do this type of investment with.
The mayor hopes that the project can fund the city so that residents don't pay taxes. 30% of the reward goes to Miami when the coin is bought or mined.
Miami's city workers will be paid in bitcoins, as well as residents will be able to pay municipal fees with it, according to a report.
We just had an industry day for bitcoin exchanges, and our residents are able to pay fees in the virtual currency. He said at the RealVision event that they were putting out an RFP on that.
The mayor of Miami wants the state of Florida to allow it to hold cryptocurrencies on its balance sheet, but state and federal statutes don't allow it.
At the Friday event, he was bullish on the market despite the recent slide in its value. The coin stood at $48,864 early Monday.
He said that people have confidence in it because they see that it's an open source and un-manipulatable system.
In the past year, it has risen 160% and is now the number one criptocurrency with a market cap of $923 billion, up from $349 billion a year earlier.
Business Insider has an original article.
