- GOP presidential candidate and current mayor of Miami, Francis Suarez, said Bitcoin (BTC) will be part of his salary if elected next year.
- The Bitcoin and digital asset topic has been used by several presidential candidates to obtain voters’ sympathy.
In a recent podcast interview, United States presidential aspirant and the current Miami mayor, Francis Suarez, disclosed that he will take his salary in Bitcoin if elected for the highest office next year. Notably, Suarez is currently taking part of his salary as a mayor in Bitcoin in a bid to show support for the nascent cryptocurrency industry. As a result, the city of Miami has been used to host several Bitcoin conferences and bring together venture capital firms, Web3 companies, users, and regulators.
During the podcast session, Suarez noted that he supports Bitcoin and other cryptocurrencies in order to promote people’s freedom and also ensure the Fourth Amendment bill is intact.
Moreover, Suarez believes Bitcoin and other crypto assets act as a good hedge against inflation and the highly politicized fiat currencies market.
Meanwhile, Suarez highlighted that the blockchain technology and cryptocurrency market have significantly helped bridge the gap between the wealthy, middle-class, and poor people in society. Furthermore, blockchain technology can be used to fractionalize the investments through tokenization of debts and stock markets.
2024 White House Race Via Bitcoin Market
Earlier this month, Suarez announced that he is accepting Bitcoin donations for his presidential campaign, whereby anyone can send as little as 0.00034 bitcoin, which is equivalent to $1. The Republican GOP presidential candidate is competing with former president Donald Trump and Florida Governor Ron DeSantis.
Interestingly, Suarez already has an altcoin called Miamicoin (MIA), which he hopes to use to pay a recurring Bitcoin stimulus to Miami citizens. On the other hand, Donald Trump recently revealed that he owns about $2 million worth of Ethereum (ETH), and has an NFT project in the market. The Florida governor, DeSantis has also adopted Bitcoin in his campaign.
With multiple presidential candidates already pro-Bitcoin and the crypto market, experts believe the details will separate the best from the rest. For instance, the protection of user data from government phishing by the law is expected to be a huge deal breaker for most voters.
Why are so many Presidential candidates coming out in support of Bitcoin?@CaitlinLong_ explains.
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The current administration led by Joe Biden has been criticized for being hostile to the Bitcoin and crypto community. Since the implosion of FTX and Alameda Research late last year, which was described as the largest modern American corporate failure, the CFTC and SEC have stepped up their crypto regulatory scrutiny.
Already, leading cryptocurrency exchanges Binance and Coinbase Global have been charged with listing unregistered securities assets.
Nonetheless, the recent historical ruling on the SEC vs. Ripple lawsuit initiated a new era for the cryptocurrency industry in the United States and its allies. Moreover, XRP sales on crypto exchanges were ruled as non-securities as they did not involve any investment contracts.
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