4
| Lists |

Five Signs Miami Is on the Crypto Bandwagon

Digital currencies appear to be here to stay in Miami.EXPAND
Digital currencies appear to be here to stay in Miami.
Image by Tim Reckmann/Flickr
^
Keep New Times Free
I Support
  • Local
  • Community
  • Journalism
  • logo

Support the independent voice of Miami and help keep the future of New Times free.

Cryptocurrency is having a moment. The price of Bitcoin is soaring, companies like PayPal are allowing users to pay with various cryptocurrencies, and Coinbase — a platform for buying and selling digital currencies — went public last week.

Even in Miami, digital currency is entering the mainstream. Last week, New Times reported that Miami-Dade County might eventually let residents pay their taxes in cryptocurrency. Danielle Cohen Higgins, a county commissioner who represents part of South Dade, introduced a resolution to the Miami-Dade Infrastructure, Operations, and Innovations Committee to create a cryptocurrency task force. The 13-member task force would examine the possibility of allowing residents to pay for their county taxes, services, and fees using cryptocurrencies like Bitcoin, Ethereum, and Litecoin.

Here are some other recent signs that crypto is here to stay.

Bye-bye, Triple-A.
Bye-bye, Triple-A.
Photo by Juan Silva/Getty Images

The county OK'ed a deal to rename American Airlines Arena after a cryptocurrency platform. American Airlines announced in 2019 that it would not renew its naming rights to the downtown Miami arena. After two decades as the Triple-A, the building seems destined to be renamed the FTX Arena, after an upstart cryptocurrency exchange platform that sprung up in Hong Kong in 2018 and landed a stateside trading operation in 2020.

Miami's future according to Mayor Francis Suarez features tech bros, tunnels, and digital currency.
Miami's future according to Mayor Francis Suarez features tech bros, tunnels, and digital currency.
Photo by Michael Campina

Miami's mayor has proposed paying city employees with Bitcoin. City of Miami Mayor Francis Suarez has been courting tech entrepreneurs and venture capitalists to trade Silicon Valley for Miami and help turn the Magic City into a global technology hub (complete with a tunnel system). To that end, Suarez is working on making Miami "crypto-forward" by requesting that commissioners vote to study the use of cryptocurrency to pay employee salaries. The public would also have the option to pay for city services in Bitcoin.

How much Bitcoin for a table?
How much Bitcoin for a table?
Photo courtesy of E11even

E11even will accept payment in Bitcoin. E11even, one of Miami's biggest nightclubs, announced this week that it will allow guests to pay for drinks and tables with cryptocurrency. According to E11even, it will be the first major nightclub in the U.S. to do so. The club is partnering with a cryptocurrency processing company to accept purchases in Bitcoin, Bitcoin Cash, Ripple, Dogecoin, and other digital currencies.

Five Signs Miami Is on the Crypto BandwagonEXPAND
Photo by Amadeus McCaskill

A major Bitcoin conference is moving from Los Angeles to Miami. Looks like the Silicon Valley tech bros will need to make room for the high-earning Bitcoin whales coming to Miami this summer. According to the Miami Herald, MANA Wynwood will host the world's largest cryptocurrency convention, from June 3 to 5.

Organizers expect a crowd of as many as 10,000 people. Speakers include Twitter's Jack Dorsey, venture capitalist Chamath Palihapitiya, pro skater Tony Hawk, and, of course, Miami Mayor Francis Suarez.

Keep Miami New Times Free... Since we started Miami New Times, it has been defined as the free, independent voice of Miami, and we would like to keep it that way. Offering our readers free access to incisive coverage of local news, food and culture. Producing stories on everything from political scandals to the hottest new bands, with gutsy reporting, stylish writing, and staffers who've won everything from the Society of Professional Journalists' Sigma Delta Chi feature-writing award to the Casey Medal for Meritorious Journalism. But with local journalism's existence under siege and advertising revenue setbacks having a larger impact, it is important now more than ever for us to rally support behind funding our local journalism. You can help by participating in our "I Support" membership program, allowing us to keep covering Miami with no paywalls.

We use cookies to collect and analyze information on site performance and usage, and to enhance and customize content and advertisements. By clicking 'X' or continuing to use the site, you agree to allow cookies to be placed. To find out more, visit our cookies policy and our privacy policy.

 

Join the New Times community and help support independent local journalism in Miami.

 

Join the New Times community and help support independent local journalism in Miami.