The Mayor of Miami, Francis Suarez, becomes the first politician to receive 100% of his salary in Bitcoin

Francis Suarez, the incumbent mayor of Miami, has announced that he will receive all of his salary in Bitcoin, making him the first incumbent politician to do so.

The Mayor of Miami, Francis Suarez, becomes the first politician to receive 100% of his salary in Bitcoin

The announcement came on Francis Suarez’s official Twitter after he retweeted a post from Anthony Pompliano, another celebrity crypto advocate and influencer, who posted an open-ended question: It’s time. Who will be the first American politician to receive their salary in Bitcoin?

Previously, NFL stars and other athletes have been seen receiving part or even all of their salaries in bitcoin, but never before has a seated politician done this. However, given Suarez’s love for $ BTC, this shouldn’t come as a big surprise either.

Mayor Francis One of the biggest Bitcoin backers, Suarez is working to make Miami the crypto city of the United States. He is working to build clean Bitcoin mining facilities and enable government workers to receive their salaries in USD BTC. At one point, the mayor also suggested putting the city’s money in bitcoin, but that plan failed because current state law doesn’t allow investments to be made in digital assets.

Miami is also the first city to have its own cryptocurrency token called Miami Coin, which is built on the foundation of the Bitcoin blockchain and mines new coins every ten minutes. The money from the coin mining in Miami will be used for the good of the city.

According to US government public records, the annual salary of the Mayor of Miami is $ 97,000, which means he’ll get nearly $ 8,000 in BTC on his next paycheck (as of today, about 0.13 BTC). In other posts, Mayor Suarez said that he would rather rely on apps like Bitwage or Strike to convert his fiat into crypto than let local governments do it.

Despite the broader positive news for Bitcoin, its price action remains trapped in a range around the $ 62,000 mark. The 4-hour chart also shows that the 50 period simple moving average is acting as a pivot point and a difficult pivot point for sellers at the same time.

Francis Suarez: A cryptocurrency “HODLER”

His words came in the middle of America’s Election Day celebration where Francis Suarez is the front runner among six candidates. However, after some discussion on social media, the announcement is not surprising as some might see the announcement as a form of populism.

Suarez has told the media that he owns Bitcoin and Ether (ETH). At the same time, he continues to urge Miami to become a “crypto hub” by trying to pass what he calls “the most advanced crypto law” of all.

Miami leads the Crypto City Band

As cryptocurrencies grow in popularity, politicians and local governments have started experimenting with them in their existing financial systems to become the crypto city of tomorrow.

In the US alone, several mayors have promised in their elections to turn their respective cities into crypto hubs, but Miami now seems years ahead. Other cities trying to mimic the success of crypto in Miami include Florida, New York City, and a few others. With central governments taking note of crypto advances, state governments can now gain more traction for the crypto city.

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