Miami Mayor Francis Suarez, known for his embrace of Bitcoin and efforts to position Miami as a crypto-friendly city, has entered the race for the Republican nomination for President.
Miami Mayor Francis Suarez Has Been a Vocal Advocate for Bitcoin, Emphasizing its Potential to Democratize Wealth in America
Miami Mayor Francis Suarez, known for his embrace of Bitcoin and efforts to position Miami as a crypto-friendly city, has entered the race for the Republican nomination for President. Suarez, who has been accepting his salary in Bitcoin, submitted the necessary paperwork to the Federal Election Commission to officially launch his campaign. Despite facing tough competition from prominent candidates such as former President Donald Trump and Florida Governor Ron DeSantis, Suarez hopes to leverage his experience in leading Miami during the pandemic-induced tech worker exodus from Silicon Valley and New York, which resulted in several crypto firms relocating to the city.
Suarez has been a vocal advocate for Bitcoin, emphasizing its potential to democratize wealth in America. He has explored the acceptance of taxes and payment of municipal employees in Bitcoin and even introduced MiamiCoin, a cryptocurrency built on the Bitcoin adjacent blockchain called Stacks. However, MIA faced significant challenges, losing around 95% of its value from its all-time high. Despite this setback, Suarez remains a steadfast supporter of cryptocurrencies and believes in the underlying technology, stating that the price fluctuations do not alter his perspective.
As the race for the 2024 Presidential election unfolds, Suarez's entry adds another dimension to the Republican field, highlighting the growing influence of cryptocurrencies and blockchain technology in the political landscape.
