Miami Mayor Defends Bitcoin Pay Amid Volatility: “I’m Not Worried”
Miami Mayor Francis Suarez was asked if he was worried about Bitcoin following its recent decline below $100,000 during an interview with Fox Business on Wednesday. The mayor, who started accepting his income in Bitcoin in late 2021, stated that the recent volatility in the cryptocurrency market hasn’t affected him. According to him, his Bitcoin earnings have increased by over 300%. He stated that he is less interested in monitoring daily price fluctuations and more concerned with the development of decentralized finance, cryptocurrency, and artificial intelligence.
No, because I got paid at $30,000, so it’s up 300%, it was actually up to 400% when it was up to $120,000, so I’m not concerned about everyday market swings from one day to the other. I’m more concerned with the macro impact of having a store of value that people have faith in, that has a money creation system known through the code.
Suarez
A Political Move Ahead of Its Time
Early in November 2021, Suarez first declared that he will accept his first salary in Bitcoin. His goal was to become the first state or federal legislator to accomplish so. At the time, his choice was regarded as a risky one for a politician. This stood out as an even bolder move, especially given the uncertainty surrounding cryptocurrency regulations in the United States.
I’m going to take my next paycheck 100% in bitcoin…problem solved!,
Suarez
The Mayor Who Bet on Bitcoin—and Is Still Winning
Suarez became one of the most crypto-forward political personalities in the United States due to his early use of Bitcoin as a payment method. Beyond symbolic, his position represented Miami’s larger goal of becoming a global center for blockchain innovation and digital banking. Suarez actively pushed for Bitcoin integration into city projects, supporting blockchain businesses, digital infrastructure, and cryptocurrency education, despite the fact that many authorities were still dubious about the future of decentralized assets. His sustained optimism in the face of price volatility demonstrates his long-term faith in the revolutionary potential of Bitcoin and cutting-edge technology like artificial intelligence.
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