Francis Suarez, the sitting Mayor of Miami metropolis introduced he’ll obtain his total paycheck in Bitcoin, making him the primary sitting politician to take action. Earlier, NFL stars and different athletes have been seen taking some half and even their total paycheck in Bitcoin, however by no means a sitting politician has carried out so. Nonetheless, given Suarez’s love for $BTC, it didn’t come as an enormous shock both.
— Mayor Francis Suarez (@FrancisSuarez) November 2, 2021
Mayor Suarez has been one of many largest proponents of Bitcoin and dealing in the direction of making Miami the crypto metropolis of the US. He’s working in the direction of constructing clear Bitcoin mining amenities in addition to permitting authorities staff to obtain their wage in $BTC as effectively. At one level, the Mayor has additionally proposed to speculate the town’s funds into Bitcoin, however that plan didn’t undergo as present state legal guidelines don’t enable for funding in digital property.
Miami has additionally turn into the primary metropolis to have its personal native crypto token known as Miami Coin, which has been constructed on high of the Bitcoin blockchain and mines new cash each ten minutes. The funds generated from mining Miami cash could be utilized for the welfare of the town.
Miami Leads the Crypto Metropolis Bandwagon
As cryptocurrencies have turn into extra mainstream, politicians and native governments have began experimenting with them of their present monetary system in a bid to turn into the crypto metropolis tomorrow.
Within the US alone a number of Mayors of their elections have promised to make their respective metropolis a crypto hub, nevertheless Miami appears to be years forward in the meanwhile. Different cities which might be making an attempt to emulate Miami’s crypto successes embrace Florida, New York Metropolis, and some others. As central governments pay attention to the crypto progress, state governments may now acquire extra traction for the crypto metropolis.