Miami Mayor Francis Suarez said he is personally planning to buy cryptocurrencies this week. He is considering a portfolio of currencies, including Bitcoin, Ethereum and potentially even Dogecoin.
"We will do this this week, I want to do it sooner or later, because the price keeps going up," he said, adding: "the faster the better." He also plans to make his cryptocurrency purchase now, partly as a way to celebrate Bitcoin's recent rise beyond the $ 50,000 mark.
"We are going to do something cool, perhaps to celebrate the passing of $ 50,000," said the mayor, adding that "it will be done as a public thing, because I think it will be fun, and I think it would be cool."
The mayor plans to open an account on two exchanges, as he has a close relationship with Coinbase CEO and with the Gemini co-founders.
While this may seem trivial, it can have a huge impact on the crypto market, as it is really important to stretch the influence of the cryptocurrency community to the boomer-dominated political sphere. When the political landscape changes to a more crypto-friendly approach, individual and institutional adoption could grow exponentially.