Miami’s Mayor Continues to Receive His Salary in Bitcoin

Francis Suarez, the mayor of Miami and a vocal bitcoin bull, revealed that he still receives his salary in the primary digital currency. He explained that this isn’t his only income as other people might get paid in fiat currencies.

Salary in BTC Despite Market Crash

In the last few weeks, the cryptocurrency market has seen a significant decline. Bitcoin is struggling to keep $30,000, and it is still far from its peak last year.

The negative trend hasn’t changed Miami’s mayor position on the asset. He stated that he still receives his salary in Bitcoin during a panel discussion at the World Economic Forum in Switzerland. The Republican, on the other hand, stated that he only receives one of his paychecks in this manner.

“I’ll note for the record that it’s not the only salary I receive. This is a different decision from if someone decided to take their salary as Bitcoin, if that was their only source of income.

Suarez spoke out about Terra and noted that the price collapses of LUNA/UST have not reflected his BTC vision. He believes that investing in crypto and tech stocks can be risky due to the increased volatility. However, one cannot profit without taking risks.

“Government has always tried to protect people from losses. You can’t protect people from losses. This is the American system. This is what makes investing worthwhile. This is also the risk component of winning.

Francis Suarez Source: CNBC

What BTC looks like in Suarez’s eyes

The mayor of Miami is one of the strongest supporters for the asset class. He disclosed last summer that he had purchased both BTC as well as ETH.

He became the first American politician who received his salary in bitcoin a few months later. He currently earns between $150,000 to $200,000 as a Miami political leader, which is 5 BTC to 6.7 BTC.

Suarez claimed that the greatest advantage of the digital asset was its ability to create an exchange system where people aren’t subject to “wild inflation” and “wild devaluation through corrupt actors.”

The mayor of New York stated last month that he would like to see Bitcoin integrated into every level of American society.

“We must make sure that we are able to go to a convenience store and purchase a Snickers with Satoshi.”

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Marla Brooks

Marla Brooks – Financial Analysis My name is Marla Brooks, and I am the mainstream behind the”observednews.com”  for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.

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