Bitcoin is one of the popular cryptocurrencies in the world, and Miami Mayor, one of those who appreciate digital finance says he would take his next paycheck entirely in Bitcoin.
The Miami Mayor
Miami Mayor Francis Suarez has served as a political leader in this position since 2017. He is one person who advocates for giving Miami a whole new transformation, making the place a new hub of digital finance. In his Twitter post on Tuesday, he said that he would take his next payment in Crypto, specifically Bitcoin.
After mentioning that he would take it “100% in Bitcoin,” he didn’t stop at that. He further tweeted, “Can you help?”
This was in reference to Mike Sarasti, the director of innovation and tech in Miami city.
This tweet places him in a position of being the only political leader ready to take his salary in Bitcoin in the USA. According to public records, between the years 2016 and 2017, this Miami Mayor had an annual salary of $97,000. However, his current earnings are $187,500 worth of salary.
This plan of receiving his next paycheck in Crypto does not come as a surprise, though. Miami Mayor’s stand on cryptocurrency is quite evident. For instance, he has plans to pay the city employees’ salaries in Bitcoin. Earlier in the year, the mayor, a vocal cryptocurrency proponent, also mentioned his plans of allowing citizens to use cryptocurrency in paying their city taxes.
Besides, Francis Suarez mentions that Miami will put a formal proposal to actualize these plans and make the promises a reality. Therefore, there are signs everywhere that Miami’s Mayor wants his city to embrace Bitcoin.
The Crypto Space
As much as Francis Suarez, Miami Mayor, is the first person in a US political position to request his salary in Crypto, other businesses and startups are supporting and embracing cryptocurrencies. Moreover, funds are being allocated to help blockchain startups in different areas.
Nonetheless, other US cities have also had their mayors push for the adoption of Crypto. They want even the slightest support in policies and practices regarding digital assets. Therefore, many are embracing cryptocurrencies, and some political leaders are pushing for their adoption.
Apart from Miami Mayor Suarez, there are other individuals who are strong proponents of Cryptocurrency. Other prominent people who believe in the same are Elon Musk and Nayib Bukele. These individuals have a strong belief in Crypto. When Jamie Dimon, JPMorgan Chase CEO, called Bitcoin “worthless,” Suarez held a strong opinion against his statement.
When defending the crypto space, Suarez mentions the increasing growth in the value of cryptocurrencies over the past year. This is backed up with prevailing trends. Nonetheless, the Miami mayor mentioned the international community implementing cryptocurrency, from Africa, South America to Central America.
Cryptocurrency Paycheck; Maybe Not Yet
Despite many proposals, some limitations prevent Crypto from being used for the paycheck. One factor that stands out and explains this is how volatile the asset is, but this might be the next big step on Bitcoin going huge.