Miami Mayor Francis Suarez proposed paying Miami’s municipal workers in Bitcoin, in a move to facilitate cryptocurrencies business. The mayor plans to allow workers in the City of Miami to choose between receiving all or portions of their pay in Bitcoin, or fiat.

In an interview with Finance Magnets Mr. Suarez said: “If I would have invested in Bitcoin last year, I would have made 200 plus percent. So, I would have looked like a genius. We are looking into allowing citizens to make payments, including taxes and fees to the city in bitcoin. We are also considering diversification of our investment portfolio to invest in BTC”.

Bitcoin (BTC) the largest digital cryptocurrency in the world is trading at $47,600 per token. The recent boom in the digital token’s price followed news about Tesla buying $1.5 billion worth of Bitcoin. Additionally, America’s oldest bank New York Bank and Mastercard, both announced Wednesday that they’ll accept the cryptocurrency. As a result, the total market capitalization for all cryptocurrencies blasted above $900 billion.

The recent interest from banks, billionaires, and financial institutions opened more doors for Bitcoin adoption by government and officials. Meanwhile, several U.S. states showcased interest in adopting the digital token. New Jersey had also proposed a regulatory framework for cryptocurrency-related company.

Miami commissioners have to study the use of BTC

However, a report by the Miami Herald stated that Miami’s commissioners had another say about it. The commissioners voted Thursday night to study the use of the digital currencies before allowing payments or giving municipal workers options to get paid in Bitcoin or fiat. Although Suarez wanted commissioners to approve the use of bitcoin immediately, he said that the vote is a step in the right direction.

On the other hand, commissioners have already voted for launching educational campaigns in English, Spanish, and Creole — aiming to inform more people about the cryptocurrencies. Additionally, commissioners encouraged the state legislature to pass laws that can further facilitate the city’s investment in the digital token. According to a report by Miami Herald, Mr. Suarez advocated the city’s treasury funds to invest in BTC.