Francis Suarez, the ‘bitcoin mayor,’ is a strong advocate for cryptocurrencies.

Miami Mayor Francis Suarez: A Champion for Cryptocurrency

Miami Mayor Francis Suarez is not your typical politician. He is a trailblazer, a visionary, and a true believer in the power of cryptocurrency. As one of the most committed digital asset proponents in elected office, Suarez has taken bold actions to promote and embrace the world of crypto.

Taking Salary in Bitcoin

In a groundbreaking move, Suarez announced in late 2021 that he would be accepting 100% of his salary as mayor in the form of bitcoin. This decision sent shockwaves through the political landscape and garnered international attention. Suarez’s goal was clear – to showcase Miami as one of the most innovative cities in the world.

But he didn’t stop there. Suarez also opened the door for other city employees to follow suit, giving them the option to receive their salaries in bitcoin. This move demonstrated his commitment to empowering individuals and embracing the future of finance.

MiamiCoin: A Vision for the Future

Suarez’s enthusiasm for cryptocurrency led him to push for the creation of MiamiCoin, a digital token for the city. The idea behind MiamiCoin was to raise revenue for the city while promoting Miami’s embrace of cryptocurrency and related technologies.

Although MiamiCoin faced challenges amidst the broader cryptocurrency market downturn, it initially showed promise. The government received a significant disbursement from CityCoins, the platform behind MiamiCoin, which was allocated to a city rental assistance program. While the coin’s value has since declined, Suarez’s vision for Miami as a crypto hub remains unwavering.

Courting Crypto Companies

Suarez’s efforts to position Miami as a Silicon Valley-type hub for the cryptocurrency industry have been remarkable. He has highlighted the area’s low taxes and favorable regulatory environment, attracting crypto startups and companies to the city.

One notable success was the relocation of FTX, a now-defunct crypto giant, to Miami. FTX even secured naming rights to the Miami Heat arena for over $100 million. While the deal was eventually terminated due to FTX’s collapse, it showcased Miami’s potential as a crypto-friendly destination.

Other companies, such as Blockchain.com, have also made the move to Miami, citing the city’s talent pool and growth opportunities. Suarez’s vision of building a Miami that lasts forever and works for everyone is becoming a reality.

A True Believer

Despite the challenges faced by the cryptocurrency industry in recent years, Mayor Suarez remains a steadfast believer in its potential. In an interview, he expressed his unwavering faith in the fundamental technology behind cryptocurrencies like bitcoin and the transformative power of blockchain.

Suarez’s dedication to promoting and embracing cryptocurrency has undoubtedly put Miami on the map as a global leader in the industry. His actions have sparked conversations, attracted investment, and positioned Miami as a city at the forefront of innovation.

As Miami continues to embrace the world of cryptocurrency, Mayor Francis Suarez’s legacy as a champion for this transformative technology will endure.

The Washington Examiner reached out to Suarez’s office for comment about his cryptocurrency initiatives.