Miami mayor plans to accept first paycheck entirely in Bitcoin

Francis Suarez has been the mayor of Miami since 2017. He has stated that he will be taking his next paycheck in Bitcoin.

Suarez stated in a Tuesday tweet that he wanted to become the first US lawmaker at either the federal or state level to accept Bitcoin (BTC) as part of his salary. According to public records, the Miami mayor earned $97,000 per year between 2016 and 2017. This would mean that he would get a monthly salary of more than $8,000 (or 0.13 BTC) at $63,404. If residents didn’t vote to increase his public service compensation, Suarez stated that he prefers to use apps like Bitwage and Strike to have his crypto paycheck converted by the local government.

Problem solved! I will take my next pay check 100% in bitcoin. @Sarasti, can you help me? https://t.co/v4YdPZ0tYc
— Mayor Francis Suarez (@FrancisSuarez) November 2, 2021

This declaration was made on Election Day in the United States. Although many federal offices will not be available until 2022, the election will allow for local and state elections, including the mayor of Miami. Suarez is the frontrunner of six nonpartisan candidates.

Mayor Suarez claimed he has both Ether (ETH) and Bitcoin (BTC). He has made it clear that he wants to make Miami a crypto hub, with the most advanced crypto laws in the United States. Numerous events and businesses in the crypto industry have been drawn to the region, including the Bitcoin 2021 conference. Borderless Capital, a venture capital firm, is creating a $25 million fund to support blockchain startups located in the city.

Related: Miami launches its own digital currency

A few other mayors from the United States have also advocated for crypto adoption and support digital assets in practice or policy. Jayson Stewart, the mayor of Cool Valley in Missouri, proposed that more than $1million in Bitcoin be given away to the city’s 1,500 residents. Eric Adams, who is running for mayor of New York City has said that he intends to make the city “the centre of Bitcoins.” Adams will also be on the Nov. 2 ballot.

https://cointelegraph.com/news/miami-mayor-plans-to-accept-first-paycheck-entirely-in-bitcoin