Key Highlights
- •Francis Suarez has significantly increased his Bitcoin salary by 300%, underscoring his strong advocacy for cryptocurrency adoption.
- •This move aligns with his broader vision to position Miami as a global hub for digital currency innovation, offering residents and city employees options to transact in Bitcoin.
- •Mayor Suarez is the first U.S. politician to accept 100% of his salary in Bitcoin, promoting its adoption in the public sector.
Miami Mayor Francis Suarez has raised his Bitcoin salary by 300%, solidifying his commitment to cryptocurrency and pioneering policies around digital payments in government. Suarez, who secured a second term as mayor, took the bold step to accept 100% of his salary in Bitcoin, a first among U.S. politicians aiming to promote Bitcoin adoption and signal Miami’s ambition to become a leading crypto capital. His Bitcoin salary now reflects a 300% increase due to the cryptocurrency’s price appreciation since the initial decision to take payments in BTC. This move is not mandatory for city employees but offers them the option to receive a portion of their income in Bitcoin if they choose.
Advancing Miami as a Crypto Innovation Hub
Mayor Suarez’s increased Bitcoin compensation is a part of his broader strategy to make Miami one of the most innovation-friendly cities for cryptocurrency and blockchain companies. He has introduced resolutions allowing city employees to receive part or all of their salaries in Bitcoin and explore mechanisms for residents to pay city fees and taxes using BTC. This initiative aligns with Suarez’s vision to attract technology entrepreneurs, create high-paying jobs, and establish regulatory frameworks that support crypto innovation and business growth within Miami.
Suarez’s belief in Bitcoin’s long-term value has guided these policies, as he views the cryptocurrency not only as an investment but also as a practical tool for government payments amid inflation and fiscal challenges. His leadership reflects Miami’s drive to become a pioneer in digital currency adoption in the public sector and enhance its reputation as the crypto capital of the world.
This initiative in Miami mirrors growing interest in Bitcoin’s utility, as evidenced by Senator Cynthia Lummis’s renewed push for the United States to establish a Strategic Bitcoin Reserve (SBR) as a critical measure to address the nation’s escalating $37 trillion debt. Lummis asserts that Bitcoin’s limited supply and long-term growth potential make it the most viable solution for offsetting the debt, likening it to traditional strategic assets such as gold and oil.