Miami Mayor Suarez to Receive Next Paycheck Entirely in Bitcoin

Miami Mayor Francis Suarez made a commitment to receiving his next paycheck entirely in Bitcoin, becoming the first prominent American politician to do so. The Mayor is in favor of turning Miami into a Bitcoin hub that integrates cryptocurrency into city operations and allows employees to receive their salaries in Bitcoin. “I want us to differentiate ourselves as a crypto capital of the United States or of the world,” he said in an interview with Emily Chang.

Francis Suarez, who has been the mayor of Miami since 2017, said he would receive his next paycheck in Bitcoin, as announced on the morning of November 2, according to Bitcoin Magazine. He stated that he will be the first American politician to accept his salary in cryptocurrency. “I’m going to take my next paycheck 100% in Bitcoin… problem solved,” tweeted Suarez in response to Anthony Pompliano’s tweet asking who would be the first U.S. politician to accept their salary in BTC. The mayor asked for the help of Miami's CIO Mike Sarasti.

I’m going to take my next paycheck 100% in bitcoin…problem solved! @Sarasti can you help? https://t.co/v4YdPZ0tYc

— Mayor Francis Suarez (@FrancisSuarez) November 2, 2021

Sarasti said he had already sent the Mayor a Strike link for him to register and be able to receive his paycheck in Bitcoin. “My experience receiving a portion of my pay last week went flawlessly,” Sarasti tweeted, hinting that he has been converting a part of his salary into BTC already. “Boss move,” he said, referring to the mayor’s decision to receive all, rather than part, of his pay in Bitcoin.

According to the Miami Herald, Suarez's annual salary is $187,500, estimated at about three Bitcoins. Suarez is known to already own both BTC and Ethereum (ETH).

Under the leadership of Suarez, the Miami government plans to invest part of the city's coffers in Bitcoin. This will make Miami the first city in the U.S. to have its budget partially in crypto. Last month, Suarez named “a major priority” for the city to pay government employees in Bitcoin. In addition, the authorities have designed a concept of a payment mechanism that will allow residents to pay fees and, possibly, even taxes in BTC.

 

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