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Miami Goes All In on Bitcoin as Mayor Francis Suarez Looks to Use BTC for Payments, Florida Wins Again
February 12, 2021 @ 9:37 am By JD Alois
Miami Mayor Francis Suarez is going all-in on Bitcoin as he announced via Twitter that he has requested the city manager to research a vendor to facilitate Bitcoin payments as well as paying employees in Bitcoin.
Crypto insiders quickly embraced the move with
Anthony Pompliano labeling Miami the first Bitcoin [municipality] in the United States.
Florida, and Miami specifically, has emerged as a haven for tax abused refugees from high tax states like California and New York. A business-friendly climate and no state income taxes has lured a growing number of Californians and New Yorkers to the sandy beaches of Florida. Additionally, Florida’s keen ability to more effectively manage the ongoing COVID health crisis has helped as well – in contrast to the struggles of California and New York.
SoftBank is just the latest validation for Miami’s booming startup scene
Miami has long been a refuge for those escaping the cold or Latin American countries in political and economic turmoil. But, in 2020, it welcomed investors, founders and others in tech leaving San Francisco and New York City, partly propelled by the pandemic, seeking a welcoming government, lower taxes, a decent climate, less expensive housing, a dynamic lifestyle and the type of diversity that’s proven to help companies thrive.
Investors are bullish on Miami, TechCrunch found. In a survey with eight local investors, they point out the strengths and opportunities of the growing market.
SoftBank earmarks $100 million for Miami-based startups
Miami, an emerging startup hub, has a new check-writer in town: SoftBank. The Japanese multinational conglomerate announced plans today to invest $100 million, drawn from across its funds, into Miami-based startups. Notably, SoftBank’s $5 billion Latin America fund is headquartered in Miami, as well.
The initiative is led by SoftBank CEO Marcelo Claure. The fund will back companies who are in Miami or plan to move there.
A SoftBank check is somewhat of a Silicon Valley rite of passage, so the firm’s involvement in the scene will likely signal to others that the growth of Miami is something to be taken seriously. The tax-free haven is attracting swathes of investors and founders from around the country looking to join the growing scene. Relocators include Keith Rabois of Founders Fund, David Blumberg of Blumberg Capital, Chris Dixon of Andreessen Horowitz.
Join Us in Miami! Love, Masters of the Universe
Silicon Valley techies and Wall Street titans have bought homes and moved businesses there in the pandemic, coaxed by an eager mayor.
Credit.Gabriel Alcala
Published Jan. 29, 2021Updated Jan. 31, 2021
MIAMI America’s business leaders, freed from the office, looked around the country, taking note of its coronavirus lockdowns, taxes and rabble rousers. And many said as if in unison: Miami!
Silicon Valley venture capitalists: Miami!
And the charming mayor, Francis X. Suarez, a registered Republican, knowing he had an especially easy sell at the moment, said: Welcome.
As tech leaders have decamped from San Francisco and Wall Street titans from New York, many have spread across the country to locations with sun, lower taxes and preferably more relaxed lockdowns. Coming from places run by progressive governments that were sometimes openly antagonistic toward local elites, many were thrilled to move to towns that seemed to want