Miami Mayor Considers Receiving His Pension In Bitcoin
The Mayor of Miami, Francis Suarez, has started receiving part of his pay in Bitcoin. Today, he has also disclosed his desire to receive his pension in Bitcoin. The man who was once the only known United States politician to receive his pay in Bitcoin disclosed this interest in discussion with Real Vision.
In the interview, the mayor expressed this was his inclination. He told the financial TV show that he saw it as a good investment. He added that he had faith that it would yield good returns in the long term. He revealed that he is currently weighing his options as to how he can achieve this goal.
Mayor Suarez expressed confidence that his pension payments in Bitcoin will start next year. The political office holder disclosed that he had started receiving his pay in Bitcoin with the aid of Strike, a third-party payment solution. The mayor remains committed to increasing the Bitcoin adoption rate in the city.
Plan For Residents To Receive Bitcoin Rewards
Last month, the mayor disclosed that residents would get their rewards for staking the city’s native MiamiCoin in Bitcoin. He revealed that many crypto enthusiasts in the city are looking forward to receiving this income in Bitcoin. He said there remained faith in the cryptocurrency despite its near 30% slump in the last couple of weeks.
Suarez revealed that the success of cryptocurrencies is tied to the belief people have in them. He attributes the trust in cryptocurrencies to the open-source structure. Mayor Suarez believes that institutions cannot manipulate the market. He considers these the reasons for the phenomenal growth of the emerging market.
The mayor pointed out that he could receive his pension in Bitcoin because he was allowed other income streams. Mayor Suarez revealed that the salary received as a political office holder wasn’t all of his income. He said that he could conveniently risk that part of his income in Bitcoin investment.
Support From State Government
The Miami mayor had taken to Twitter a couple of days ago to commend Florida Governor DeSantis on encouraging the growth of Blockchain technology in the state. Suarez challenged the Florida Governor to follow his lead and collect his salary in Bitcoin. The Bitcoin incentive programs will give Suarez’s Bitcoin interest some support on the state level.
Governor DeSantis disclosed that the state government welcomed blockchain technology and is willing to encourage its development in the state. The governor said this as he presented a plan to see Businesses pay state fees in Bitcoin. The plan is just one out of many incorporated in the state’s budget for 2022.
The government hopes to lure more cryptocurrency investment to the state with the plan. The state has witnessed an inflow of many blockchain-related Businesses as it continues to make crypto-friendly policies—many attribute Suarez with pioneering the movement in the state with his efforts in Florida. Mayor Suarez pushed for the incorporation of Bitcoin at the beginning of this year.
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