The mayor of Miami became the first US politician to accept a whole salary payout in bitcoin amid increasing crypto adoption against inflation.
Francis Suarez- Mayor of Miami- is now a bitcoin trader also because he finally decided to go all-in bitcoin. Francis said that they will accept his paycheck in bitcoin. To announce his decision for bitcoin salary, Francis wrote on Twitter by tagging Mike Sarasti – the city’s Director of innovation and tech.
Francis is also a digital assets holder but now he is showing his Bullish behaviour for this asset by accepting salary in bitcoin.
With the announcement, Francis quoted the tweet of Anthony Pompliano– crypto influencer- where Pompliano tweeted that he will become the first American politician to accept the next salary in Bitcoin.
Francis’ annual salary is around $187,500 per year. And if we compare it with the current price of Bitcoin then it will be equal to 3 Bitcoins.
Miami’s politician criticized the bitcoin critic Jamie Dimon. According to Jamie Dimon, bitcoin will not exist longer & have no intrinsic value but blockchain technology at which bitcoin lying is secured and innovative.
Miami’s Mayor opinion to choose Bitcoin
According to Francis, bitcoin has huge numbers of benefits and the main advantage is that it is not connected with the fiat system and appreciated El Salvador indirectly for accepting Bitcoin as legal tender.
“There is also a wave of countries in Central America, South America, and in Africa that starts to adopt bitcoin as a base currency and that could revolutionize the utility of bitcoin”
Statements of Francis indicate that inflation is going to be a big critical issue for the global financial system and he is going to be ready for such a situation.