The mayor of Miami admitted that he continues to receive a salary in Bitcoin. He is the first politician in the US to receive a salary in cryptocurrency.
Miami mayor, Francis Suarez—a Bitcoin bull—revealed that he still receives his salary in Bitcoin. But he explained this is not his only paycheck, as other income may be paid in fiat currency, according to CryptoPotato.
Over the past few weeks, the cryptocurrency market has fallen significantly, but this has not changed Suarez's attitude towards Bitcoin. During a panel at the World Economic Forum in Switzerland, he confirmed that he still receives his salary in BTC, although there is other income that he receives in fiat.
“I will note, for the record, that it's not my only salary. It’s a different decision than if a person was deciding to take their salary in Bitcoin if it was the only source of income for them.”
Suarez also spoke out on Terra, noting that the LUNA/UST price collapse did not affect his vision for Bitcoin. In his opinion, investing in cryptocurrencies or investing in technology stocks can be dangerous due to the increased volatility of assets, but one cannot make a profit without taking risks.
“Government has had a tendency over time to try and protect people against losses, and you can’t protect people against losses. That's the American system. That's what makes investing. That's the risk component to win as well.”
© 2022, Eva Fox | Tesmanian. All rights reserved.
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About the Author
Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.