Miami Mayor will Take his Next Salary in Bitcoin

Francis Suarez is the current and possibly the next elected Mayor for the city of Miami. The politician who hails from the Republican Party has been considered to have massive followership and popularity among the electors. Suarez claimed a few months ago that he plans to use the power of cryptocurrency to upgrade the financial and economic condition of Miami.

The slogan seems to be working effectively for his election campaigns. The City of Miami recently arranged a general election in the first week of November this year. The results indicate a huge success probability for Suarez. According to the media, Suarez managed to bag 78.7% of the votes. His opposing candidate was only able to score 11.5% of the votes. The final voting results will be made official after the elections are held on November 16th, 2021.

The Mayor of Miami is not only popular, but he is also ambitious to make a name for himself. He recently tweeted a question posed by the famous crypto podcaster Anthony Pompliano. Suarez claimed publically that he wishes to show his support and trust in the flagship cryptocurrency by signing up for getting paid 100% in Bitcoin. He also tagged Mike Sarasti to help him accomplish this feat.

Sarasti is the director at the city of Miami for innovation and technology. At present, the annual salary for the position of Mayor in Miami is as much as $187,500. Considering the value of Bitcoin at press time which is $62,114, Suarez’s next mayoral salary is going to be compensated with as many as 3 Bitcoins. Pompliano asked Suarez that who was going to become the first politician to get his salary in Bitcoin, and he complied with the request.

Francis Suarez Defends Bitcoin Against Harsh Criticism

A few days ago, JP Morgan CEO and Chairperson Jamie Dimon bashed Bitcoin by claiming that it is worthless and not an asset class. However, Mayor Suarez has been visible crypto maximalist since February. When the price of the flagship crypto reached $50K last month, Suarez claimed that the future looks bright and promising for Bitcoin.

He also came forward to defend the position of the firstborn crypto against the harsh criticism by Dimon. Taking the side of Bitcoin, Suarez responded that the biggest perk of investing in Bitcoin is that it is not attached to the green paperback or any other reserves that are controlled by the centralized authorities. Suarez further added that due to 100% decentralization, many developing nations in South American, Africa, and Central America are also taking an interest in the flagship crypto to improve their economic standing.