During the first week of November, the reelected Miami mayor
Francis Suarez explained that he would receive part of his salary in
bitcoin via the payment processor Strike. A month later, speaking at
Real Vision’s Takeover event in Las Vegas, Suarez revealed he plans to
take part of his 401k in bitcoin as well.
Pro-Bitcoin Miami Mayor Plans to Convert a Portion of His 401k Into Crypto
Miami mayor Francis Suarez is a big fan of bitcoin (BTC) and he has spoken about his fascination with cryptocurrency on various occasions. In mid-October, Suarez told the press
that he was building Miami into America’s crypto capital and the mayor
stressed that cryptocurrency is a “major priority” for him. Suarez also told Chinese miners to relocate to Miami and leverage Florida’s abundant nuclear energy after China banned bitcoin mining.
Last month, Suarez revealed
he was utilizing the third-party payment processor Strike to get a
portion of his paycheck converted into bitcoin. Additionally, a growing
number of mayors in cities across the U.S. have explained
they too have an interest in getting paid in bitcoin. Now Miami mayor
Francis Suarez is taking it a step further and converting some of his
retirement money into bitcoin as well. Speaking with the Real Vision
managing editor Samuel Burke in Las Vegas, Suarez remarked that it was a
“personal choice.”
“I just think it is a good asset to be invested in. I think it’s one
that’s obviously going to appreciate over time. It’s one that I believe
in,” Suarez said. Burke asked the Miami mayor if he would invest his
401k in bitcoin next year and Suarez replied, “Oh yeah! Definitely.” The
Miami mayor further added:
Blockchain has succeeded so well because people have
confidence in it. They have confidence in it because they see that it’s
an open-source and an un-manipulatable system. And I think that is the
source of the popularity and why it’s done so well.
Suarez Discusses Obtaining a Crypto Yield From Miamicoin, Paying Municipal Fees in Bitcoin
Suarez explained last month that Miami residents may soon get access
to a “bitcoin yield” that stems from the city’s own crypto-asset called
“Miamicoin (MIA).” New York City also has its own coin called “NYC” and
both NYC and MIA can be mined. The Miami mayor also told Real Vision’s
managing editor that Miami residents will soon be able to pay municipal
fees in BTC.
“We just had an industry day for bitcoin exchanges, and we’re in the
process of putting out an RFP (request for proposal) on that,” Suarez
remarked during his interview. The Miami mayor told Burke that because
he has income stemming from the private sector it gives him the right to
invest his 401k in crypto. “I do have private-sector income,” Suarez
concluded. “So, in fairness, my mayoral salary is not 100% of my income.
So it’s a part of my income I can do this type of investment with.”
source link : https://news.bitcoin.com/miami-mayor-francis-suarez-plans-to-take-a-fraction-of-his-401k-in-bitcoin/
