- GOP candidate and Miami Mayor Francis Suarez has stated he would accept bitcoin as part of his presidential salary
- Suarez believes cryptocurrency, especially Bitcoin, supports freedom and acts as a hedge against a politically influenced monetary system.
- Suarez already accepts part of his mayoral salary in bitcoin
Francis Suarez, the current mayor of Miami and a GOP presidential candidate, has expressed his willingness to receive bitcoin as part of his salary if he becomes president. Suarez, who is already receiving a portion of his mayoral salary in bitcoin, sees cryptocurrency, especially Bitcoin, as a means to uphold freedom and provide a hedge against an overly politicized monetary system. While Suarez is not expected to seriously challenge the front runners for nomination, this nevertheless highlights the desirability of Bitcoin among influential figures, with Suarez touting blockchain and fractionalized investments as helping bridge wealth gaps and reduce risks.
Suarez Talks UP Bitcoin
Suarez’s stance on Bitcoin was already known to be positive, but he strengthened his stance this week in an interview with The Block, where he not only embraced Bitcoin as a potential salary component but has also opened the door for Bitcoin campaign donations. This follows the lead of other presidential contenders like Robert Kennedy Jr., Ron DeSantis, and Vivek Ramaswamy:
In the interview, Suarez also revealed that he already takes part of his mayoral salary in bitcoin, further divorcing him from the outlook of the presidential front runners; both incumbent President Joe Biden and former President Donald Trump have criticized cryptocurrencies, considering them lacking fundamental value and potentially problematic to the US financial system.
CBDCs a Major Talking Point
Ramaswamy has emphasized the need for Bitcoin to avoid being classified as a security, while Kennedy and DeSantis have shown varying degrees of support for cryptocurrency. While DeSantis has championed Bitcoin’s rights and criticized regulatory hurdles, Suarez contends that DeSantis needs to offer more comprehensive perspectives beyond opposing Central Bank Digital Currencies (CBDCs).
According to Suarez, a stance against CBDCs is a relatively easy standpoint to hold, but more substantial engagement is required to address the complexities of cryptocurrency adoption.
