About 1% of Miami's treasury can be invested in bitcoins. This idea was promised to be considered by the mayor of the city, Francis Suarez.

Co-founder of investment company Morgan Creek Digital Assets and worldwide known bitcoin enthusiast Anthony Pompliano proposed investing 1% the Miami city treasury reserves in bitcoin. "Retweet this if you would move to Miami if Mayor Francis Suarez put 1% of the city’s treasury reserves in Bitcoin," Pompliano tweeted, mentioning Suarez in his post. One of those who reposted Pompliano's tweet was the Mayor of Miami itself. “Definitely open to exploring it,” Suarez wrote.

A week earlier, Suarez tweeted that he was reading the book "Bitcoin Billionaires" by New York Times journalist Ben Mezrich, which tells the success story of the brothers Tyler and Cameron Winklevoss, founders of the Gemini cryptocurrency exchange.

Suarez added that he considers bitcoin a stable investment during an incredibly volatile year.

Suarez aims to create a new technology center in Miami that can provide an alternative to Silicon Valley.

The COVID-19 pandemic has opened up opportunities for remote work, and has also caused a massive exodus of venture capitalists and IT entrepreneurs from the San Francisco Bay Area.