2 years ago
164 Miami’s reelected Mayor, Francis Suarez, has been a long-standing cryptocurrency supporter — particularly when it comes to Bitcoin. The mayor previously sent an open invite to all crypto miners who were forced to leave China, offering them to use the city’s nuclear energy for their mining purposes.
The mayor also receives a part of his salary in Bitcoin, thanks to the 3rd-party payment processor called Strike. Now, he announced yet another plan that will get him even more involved with the crypto industry.
Miami Mayor to receive retirement in BTC too
According to the mayor’s plan, he will take a portion of his 401(k) payout in Bitcoin. He said that the decision to receive a portion of his retirement savings in Bitcoin comes as a personal choice, as he thinks that Bitcoin is a good asset to be invested in. He is a firm believer that the coin’s price will go up over time, and it is his cryptocurrency of choice.
He did highlight that Bitcoin’s success is tied to the confidence in the system, which means that it has to remain open-source and immune to manipulation. Another thing that the mayor revealed is that the city government accepts fee payment in BTC from the city’s residents.
Thank you Governor DeSantis for following Miami’s lead and welcoming crypto innovation and companies into Florida!
Now it’s your chance to take the lead as Governor and take your next paycheck in Bitcoin… @RonDeSantisFL you in? https://t.co/Zppp8DCiMe
— Mayor Francis Suarez (@FrancisSuarez) December 9, 2021
The mayor now continues to explore different options for enabling BTC payments for retirement savings, and he remains insistent on establishing a relevant system before the end of the next year.
The mayor also wants to continue Miami’s Bitcoin adoption drive, which is why on November 12th, he announced giving Bitcoin yield as a dividend directly to all eligible residents of Miami. The city will divide and distribute the yields to those who earned them by staking the city’s native MiamiCoin.
