Miami Mayor Says He Still Receives his Salary in Bitcoin

Miami Mayor Francis Suarez said he still receives his city salary in Bitcoin even after a defeat in which cryptocurrencies have fallen by nearly 40% in the last two months.

The mayor of the Republican Party, who is trying to promote Miami as a cryptocurrency and technology hub, is more focused on the usefulness of coins and his vision that the collapse of Stablecoin TerraUSD will boost the city's crypto industry.

He first announced plans to receive salaries in Bitcoin last year, warning that people need to be aware of the high risks and volatility associated with digital assets, as well as the potential for high rewards.

Mayor of Miami Francis Suarez spoke at the Bitcoin 2021 Conference in Miami, Florida, the USA on Friday, June 4, 2021. The world's largest Bitcoin event sold-out crowd of 12,000 and thousands of participants two days after the Miami conference.