Francis Suarez, mayor of Miami (United States), is determined to receive 100% of his salary in Bitcoin, the world's leading cryptocurrency.
Miami Mayor Francis Suarez will be the first American politician to receive his entire salary in Bitcoin (BTC). On Twitter, Suarez said that 100% of the salary he earns as mayor of one of the most important cities in the United States will be paid entirely in Bitcoin; the largest and most important cryptocurrency in the industry by market capitalization.
Suarez reported on his decision to receive bitcoins instead of US dollars, as a way to boost the value, trust and adoption of the cryptocurrency; as well as an effective way to protect against fiat currency inflation. At the time of this writing, the price of Bitcoin rose more than 4% in the last few hours, trading at a value higher than the $62.900 per BTCBitcoin's market cap has surpassed $1,18 trillion, which is very close to its all-time high of $1,25 trillion seen at the end of last month.
The Miami mayor, who has become known as one of the biggest advocates of innovation and the Bitcoin revolution, was responding to a post by Anthony Pompliano, asking who would be the first American politician to dare to accept their salary in BTC. Suarez publicly committed to receiving the entirety of his next salary in Bitcoin, demonstrating his great commitment to the cryptocurrency and its bright future.
Suarez's salary amounts to around $8.000 per month, so the American politician would receive around 0,127 BTC for his monthly salary, according to the current price of the cryptocurrency on the market.
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Francis Suarez, Miami and Bitcoin
Francis Suarez has been expressing for some time his total support and sympathy towards Bitcoin and the entire cryptocurrency industry. cryptocurrencies, y blockchainThe city's mayor has become a staunch defender of BTC and a promoter of its technology and innovation.
Suarez’s plans for Bitcoin include turning Miami into a complete, world-class Bitcoin mining center powered by nuclear energy, accessible and environmentally friendly. In addition, Suarez plans to invest part of Miami’s treasury in Bitcoin and use the cryptocurrency as a medium of exchange in the city, as well as a store of value asset. Suarez has also proposed to his municipal workers to accept a portion of their salary in Bitcoin; in addition to using the cryptocurrency in tax collection in the city.
Interest in NFTs
On the other hand, the American politician has also shown his interest in non-fungible tokens or NFT. In a recent interview, Suarez reported that Miami will host one of the largest conferences held on NFT in the Miami Magic Week, which will begin on November 30. Suarez assured that Miami is on its way to becoming a pillar of the crypto industry and that it will soon become known as the Crypto Capital globally.
The recent initiatives announced by the American official and politician may further boost citizens' confidence in Bitcoin and the crypto industry, making cryptocurrencies mainstream. On the other hand, Suarez is embracing the technological innovation of cryptocurrencies to make Miami a smart and crypto-friendly city. The city coin initiative, MiamiCoin, generated 5 million In September.
Leaders in other cities and states around the country are also embracing new technologies as drivers of change. In Wyoming, regulators recently approved new legislation that makes it legal to use the technology. DAO (Decentralized Autonomous Organization) on its territory; Texas is one of the leading states in crypto mining and Colorado has been experimenting with digital voting on the blockchain.
Continue reading: Miami and New York think about Bitcoin to pay salaries and collect taxes
