Bitcoin

The mayor of Miami will receive his salary in Bitcoin

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Francis Suarez, the pro-crypto mayor of Miami, has promised that he is going to receive his full next salary in Bitcoin. Thus, he may just become the first American politician to be paid in the world’s first and most used cryptocurrency.

Showing his support towards BTC

Since the beginning of 2021, Francis Suarez has demonstrated a fairly favorable approach to the cryptocurrency industry and, more precisely, Bitcoin. In addition to owning Bitcoin himself, he often praises the merits of the leading digital asset and is one of its most passionate supporters.

In his latest tweet, the mayor of Miami informed that he will take this show of support one step further, by receiving his next salary in Bitcoin. His announcement came in response to crypto supporter and investor Anthony Pompliano, who recently asked, “Who is going to be the first American politician to accept their salary in bitcoin?”

Apparently, Suarez, 44, is going to be that person. He mentioned Mike Sarasti, the city’s director of innovation and technology, in a tweet, and asked if he could help with the initiative.

According to the Miami Herald, the mayor’s annual salary is $187,500, which at the time of writing is worth almost 3 BTC.

The city of Miami held general elections for the mayor on November 2, 2021, and the election is scheduled for November 16, 2021. Francis Suarez, a member of the Republican Party, won 78.7% of the vote, while the second-place candidate gathered only 11.5% of the support of the locals.

It looks like the Bitcoin revolution in Miami will continue, as Suarez is the favorite for another four years as the city’s leader.

Bitcoin has only one way to go – up

Last month, when Bitcoin was trading at about $50,000, the mayor of Miami considered that the future of the asset looks quite promising.

Miami’s mayor even opposed the well-known cryptocurrency critic Jamie Dimon, who described Bitcoin as being “worthless” at some point in the recent past. Bitcoin has intrinsic value, while the basic blockchain technology is “the most secure, most decentralized blockchain on the planet,” the mayor argued.

According to Francis Suarez, perhaps the biggest advantage of Bitcoin is that it is not related to the fiat system or monetary policy in any way. And thus, it creates excitement in quite a few developing countries, which have recently turned their attention to it, in order to save their collapsed economies:

“There is also a wave of countries in Central America, South America, and in Africa that start to adopt bitcoin as a base currency and that could revolutionize the utility of bitcoin.”

This is true, and we cannot forget mentioning El Salvador in this conversation. Not long ago, on September 7, the country has officially announced that it is adopting Bitcoin as a legal tender, and so the famous cryptocurrency has become an accepted method to pay for goods and services. El Salvador uses the Chivo wallet – an app that any Salvadoran can download on their smartphones, and will even receive a bonus worth of $30 in Bitcoin as an incentive to get started using crypto.

Whaletank Team

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