The Mayor of Miami is a Big Bull and Accepts the Crypto Salary

Mayor Suarez’s position is not surprising because he has been pushing Miami to become a cryptocurrency and technology center. Miami mayor Francis Suarez admitted that although the current market fluctuations have reduced the main cryptocurrency by 40% in two months, he still receives his salary in Bitcoin.

Suarez began to pay wages with Bitcoin last year. He warned that people should maintain their awareness of high risk and volatility, which is the characteristic of cryptocurrency and the potential for high returns.

On May 24, Suarez explained in his speech at a group of the world economic forum in Davos, Switzerland that he had other sources of income and could pay in legal currency, which made it a reasonable choice for him to accept BTC payment. Despite the current bearish market, the Miami official is still optimistic about Bitcoin.

Regarding the collapse of Tara, Suarez asserted that it did not shake his vision of cryptocurrency for the people. According to the mayor of Miami, cryptocurrency investment and other technology stocks have always been a risky behavior because these assets are determined by volatility. Nevertheless, Suarez believes that profits will never be without risks.

“Over time, the government has a tendency to try to protect people from losses, but you can’t protect people from losses. This is the American system. This is the reason for investment.” he said, “this is also the risk factor for winning.

Mayor Suarez’s position is not surprising because he has been pushing Miami to become a cryptocurrency and technology center. According to the available information, Suarez pays more attention to the practicality of Bitcoin, which also explains why Terra’s fiasco has never shaken his desire to cultivate cryptocurrency in the city.

Bitcoin May Rise to $38K

MicroStrategy CEO Michael Saylor said on twitter. “As Wall Street embraces BTC, deniers gradually decrease, skeptics turn into traders, technocrats have no fear, and the ranks of minimalists continue to expand.”This is against the background that JPMorgan believes that Bitcoin may reach US $38000. Moreover, it is now one of the bank’s preferred alternative investments.

In his opinion, Suarez believes that the biggest advantage of Bitcoin is that it can create a exchange system in which people can get rid of “crazy inflation and strict depreciation caused by corrupt elements”. The Miami official believes that BTC can eradicate communism and democratize people’s choices. Suarez, currently a political figure in Miami, has an annual income of $150000 to $200000, equivalent to a BTC of 5-6.7.