The Miami-Dade County mayor and commissioners have all agreed that they will only accept their first paycheck in the cryptocurrency, Bitcoin. They plan to switch from US dollars by 2022.
The “Miami mayor plans to accept first paycheck entirely in Bitcoin” is a story that has caught the eye of many. The Miami mayor, Francis Suarez, plans on accepting his first paycheck entirely in Bitcoin. Read more in detail here: what is one bitcoin worth.
Francis Suarez, the mayor of Miami since 2017, has said that he would get his next salary in Bitcoin.
Suarez said on Twitter on Tuesday that he hoped to be the first state or federal senator in the United States to take Bitcoin as part of his pay (BTC). According to public data, the mayor of Miami earned $97,000 per year between 2016 and 2017, implying that he would be paid more than $8,000 each month, or 0.13 BTC at a price of $63,404, assuming citizens did not vote to enhance his remuneration for public service. Suarez said that he would rather use an app like Bitwage or Strike than have his fiat income converted into cryptocurrency by the local authorities.
I’m planning to take my next salary in bitcoin entirely… The issue has been resolved! @Sarasti, are you able to assist? https://t.co/v4YdPZ0tYc
November 2, 2021 — Mayor Francis Suarez (@FrancisSuarez)
The announcement was made on Election Day in the United States. Although many federal jobs will not be available until the 2022 midterm elections, municipal and statewide posts, including the mayorship of Miami, will be up for election. Suarez leads a field of six nonpartisan candidates.
Mayor Suarez, who claims to possess BTC and ETH, has been outspoken about his desire to transform Miami into a crypto center with “the most advanced crypto regulations” in the country. Many cryptocurrency-related firms and events have come to the region, including the Bitcoin 2021 conference in June. Borderless Capital, a venture capital company, has announced the formation of a $25 million fund to promote blockchain firms in the city.
Miami launches its own digital coin, which combines civic participation with cryptocurrency.
A few mayors in other American communities have likewise pushed for cryptocurrency adoption or otherwise supported digital assets in policy or practice. Mayor Jayson Stewart of Cool Valley, Missouri suggested handing out over $1 million in Bitcoin to the city’s 1,500 citizens in August. Eric Adams, a candidate for mayor of New York City, has said that the city would become “the hub of Bitcoins.” On Nov. 2, Adams will also be on the ballot.
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