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The Mayor of Miami plans to accept the next paycheck entirely in Bitcoin

November 3, 2021 - Around 2 mins mins to read

Francis Suarez, mayor of Miami since 2017, said he would get his next salary in bitcoin.

Miami Mayor Wants to Move on Municipal Bitcoin Buy This Week - ELEVENEWS

In a Twitter post on Tuesday, Suarez said speak he wants to be the first US state or federal lawmaker to accept part of his salary in Bitcoin (BTC). Public records show that the Mayor of Miami salary was $ 97,000 annually from 2016 to 2017, meaning that he had a monthly salary of more than $ 8,000, or 0.13 BTC at a rate of $ 63,404 provided people do not vote for an increase in public service remuneration. Suarez said he would prefer using an app like Bitwage or Strike instead of asking the local government to go out of their way to convert their fiat wages into crypto.

The statement was made on the morning of election day in the United States. Although many positions for the federal office won’t become vacant until mid-2022, local and state-wide offices, including the Mayor of Miami, will be put to a vote. Suarez was the front runner among six non-partisan candidates.

Mayor Suarez, who said he owns both BTC and Ether (ETH), has announced his intention to turn Miami into a crypto hub with “the most advanced crypto legislation” in the United States. Many crypto-space companies and events flocked to the region, including the Bitcoin 2021 conference in June, with venture capital firm Borderless Capital launching a $ 25 million fund to support blockchain startups based in the city.

Related: Interaction with citizens and cryptocurrencies: Miami introduces its own digital currency

Several mayors in other US cities have also promoted the adoption of cryptocurrencies or supported digital assets in policy or practice. In August, Cool Valley, Missouri Mayor Jayson Stewart proposed donating more than $ 1 million in BTC to the city’s 1,500 or so residents. Eric Adams, who is running for New York City mayor, also said he plans to turn the city into a “bitcoin hub”. Adams was also on the ballot on November 2nd.

 

#Bitcoin

#bitcoin price

#Government

#UNITED STATES OF AMERICA

Miami

Payment #Bitcoin

regulation

Author

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.
Market

The Mayor of Miami plans to accept the next paycheck entirely in Bitcoin

Francis Suarez, mayor of Miami since 2017, said he would get his next salary in bitcoin.

Miami Mayor Wants to Move on Municipal Bitcoin Buy This Week - ELEVENEWS

In a Twitter post on Tuesday, Suarez said speak he wants to be the first US state or federal lawmaker to accept part of his salary in Bitcoin (BTC). Public records show that the Mayor of Miami salary was $ 97,000 annually from 2016 to 2017, meaning that he had a monthly salary of more than $ 8,000, or 0.13 BTC at a rate of $ 63,404 provided people do not vote for an increase in public service remuneration. Suarez said he would prefer using an app like Bitwage or Strike instead of asking the local government to go out of their way to convert their fiat wages into crypto.

The statement was made on the morning of election day in the United States. Although many positions for the federal office won’t become vacant until mid-2022, local and state-wide offices, including the Mayor of Miami, will be put to a vote. Suarez was the front runner among six non-partisan candidates.

Mayor Suarez, who said he owns both BTC and Ether (ETH), has announced his intention to turn Miami into a crypto hub with “the most advanced crypto legislation” in the United States. Many crypto-space companies and events flocked to the region, including the Bitcoin 2021 conference in June, with venture capital firm Borderless Capital launching a $ 25 million fund to support blockchain startups based in the city.

Related: Interaction with citizens and cryptocurrencies: Miami introduces its own digital currency

Several mayors in other US cities have also promoted the adoption of cryptocurrencies or supported digital assets in policy or practice. In August, Cool Valley, Missouri Mayor Jayson Stewart proposed donating more than $ 1 million in BTC to the city’s 1,500 or so residents. Eric Adams, who is running for New York City mayor, also said he plans to turn the city into a “bitcoin hub”. Adams was also on the ballot on November 2nd.

 

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