Published
2 years ago on
November 03, 2021
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Miami’s Mayor Francis Suarez announces intentions to become the first politician ever to receive 100% of his paycheck in Bitcoin.
Mayor Wants To Be Paid In BTC
Mayor Suarez made a Twitter announcement earlier on Tuesday, where he tweeted out his intentions of receiving his next paycheck entirely in BTC. He also tagged Mike Sarasti, the city's director of innovation and tech to assist him in this endeavor. Sarasti tweeted back that he’d sent the mayor a Strike sign-up link after successfully cashing some of his most recent paychecks in bitcoin through the service.
The announcement came in response to a previous tweet by crypto investor and industry expert Anthony Pompliano, where he called out American politicians to start accepting salary payments in crypto.
Suarez’s Love For BTC
Mayor Suarez has been a significant champion for Bitcoin. Therefore it is not a surprise that he will become the first US politician to show his support for the premier crypto in this manner. He has been working towards adopting Bitcoin in Miami and making the city the crypto hub of the US. Even though several other cities, like New York, Florida, etc, are also trying to develop their crypto communities, Miami is far ahead in the race, thanks to Suarez.
Suarez has always been bullish towards BTC and the crypto market. He has successfully drawn tech firms and crypto innovators to the city and spoken at the Bitcoin 2021 Convention, the largest bitcoin event in history.
He has also focused his attention on establishing energy-efficient Bitcoin mining facilities and had even tried to invest the city’s funds into BTC. Prior to announcing his latest intention of accepting a BTC paycheck, Suarez had already announced a plan to pay city officials in Bitcoin. According to him, this would allow Miami residents to pay fees and eventually taxes in BTC.
Success Of MiamiCoin
Suarez had also launched the MiamiCoin (MIA) initiative in mid-2021, making Miami the only US city to have its own native token. For every transaction of the MIA, the coins allocate 30% of their reward to the city. As a result, the crypto raked in millions of dollars in revenue that could be channeled to fund the city’s infrastructure improvement initiatives. The mayor has also stated that because of the phenomenal growth rate of the coin’s ecosystem and protocol, MIA could potentially offset the city’s entire tax budget.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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