Miami Mayor Plans To Receive His Salary '100% In Bitcoin'

KEY POINTS

Mayor Francis Suarez says he wants to receive his salary in bitcoin
The mayor aims to turn his city into a crypto capital
Suarez helped launch MiamiCoin, the city's own cryptocurrency

Miami Mayor Francis Suarez announced that he is looking to accept his next paycheck in bitcoin and become the first U.S. politician to be paid in cryptocurrency.

The Florida mayor has been one of the most outspoken supporters of cryptocurrency, especially bitcoin, among American politicians. He has been pressing his city's lawmakers to enable government employees to be paid in bitcoin, allow taxes to be paid using the digital currency, and for the city to invest a percentage of its revenues in cryptocurrency.

On Tuesday, the mayor responded to Morgan Creek Digital partner Anthony Pompliano's post, volunteering himself to be the first U.S. politician to be paid in bitcoin.

"Who is going to be the first American politician to accept their salary in bitcoin?" Pompliano tweeted, to which Suarez responded "I’m going to take my next paycheck 100% in bitcoin."

I’m going to take my next paycheck 100% in bitcoin…problem solved! @Sarasti can you help? https://t.co/v4YdPZ0tYc
— Mayor Francis Suarez (@FrancisSuarez) November 2, 2021

In his tweet, Suarez also urged Mike Sarasti, the city's CIO and head of Innovation & Technology, to assist in making it happen. Sarasti expressed his enthusiasm to help by tweeting, "Mayor. Amazing" with two "100" symbols and a bitcoin sign.

Suarez, who was recently re-elected as the mayor of Miami, has been a very strong proponent of cryptocurrency. In October, Suarez confirmed that making his city the world's crypto capital is a "major priority" for him.

"I want us to stand out as the crypto capital of the United States or the globe," the mayor said in an interview with Bloomberg.

"It's a major priority for me because I want us to differentiate ourselves as a crypto capital of the United States or the world."

In August, the city launched its own cryptocurrency, MiamiCoin. Developed using CityCoins, it can be bought or mined, with 30% of the reward being allocated to the city. Suarez hopes that the token can one day support the city without residents having to pay taxes.

"When you think about the possibility of being able to run a government without the citizens having to pay taxes. That’s incredible," Suarez told the Washington Post.