Home Finance Miami Mayor Francis Suarez: ‘I Still Get Paid in Bitcoin’

Miami Mayor Francis Suarez: ‘I Still Get Paid in Bitcoin’

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Miami Mayor Francis Suarez: ‘I Still Get Paid in Bitcoin’

The mayor of the city of Miami in the US state of Florida said that, despite the current volatility of the cryptocurrency market, he still receives a salary in BTC.

Last November, Francis Suarez announced his readiness to become the first American politician to be rewarded for his work in bitcoins. This happened a few days before the price of the first cryptocurrency hit an all-time high of $69,000. Now this crypto asset is trading at $16,500, but the mayor confirmed that he continues to receive a salary in BTC. Suarez noted that being mayor is not his only source of income, as he works as a lawyer and also owns private equity.

The mayor of Miami is considered to be a dedicated supporter of Bitcoin, as he makes great efforts to make Miami a center for the development of technology, finance and cryptocurrencies. Even after the resounding crash of the FTX trading platform, Suarez is confident that the future of the cryptocurrency industry is bright. The politician noted that the Miami economy is diversified enough to withstand any downturn in the crypto industry. Suarez believes that the development could be facilitated by regulatory rules that protect users from fraudulent crypto-currency schemes.

“Web3 and cryptocurrency are not going anywhere. We must remember that this technology is new. Not every iteration succeeds and not every company succeeds. The leaders who can survive the crypto winter should join forces and help legislators develop regulation. Then people will be convinced that cryptocurrencies and the latest technologies expand their opportunities for investments, and do not deprive them of their accumulated savings, ”said the Mayor of Miami.

In May, Suarez said that bitcoin should be considered not only a source of profit, but also the foundation for the development of the digital economy.

Source: Bits

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