"Miami Mayor Francis Suarez says he's sitting on major gains from his Bitcoin paychecks, telling Fox Business he's "up 300%" since taking his salary in bitcoin. "I got paid at $30,000," Suarez said, noting that Bitcoin had even been up 400% when it hit $120,000 earlier this year. Despite recent market volatility - with Bitcoin slipping below $100,000 this week - Suarez said he isn't worried about short-term price swings."
"[The volatility of bitcoin] "really doesn't bother me," he told host Stuart Varney. "I'm more concerned with the macro impact of having a store of value that people have faith in, that has a money creation system known through the code." Suarez, who famously became one of the first U.S. politicians to take his pay in Bitcoin, said the focus should be on how decentralized finance and crypto are evolving alongside AI."
Francis Suarez reports being up about 300% after taking his mayoral salary in Bitcoin at roughly $30,000, and noted Bitcoin reached $120,000 earlier this year representing a 400% rise. He expresses indifference to short-term volatility and emphasizes Bitcoin's macro role as a store of value with a predictable money-creation system encoded in software. He highlights the parallel evolution of decentralized finance, crypto, and AI. He promotes Miami's emergence as a financial hub with a pro-capitalist ethos contrasted with New York. He advocates for increasing Bitcoin utility by enabling city payments, taxes, employee salaries, and resident fee payments in BTC to drive adoption and value.
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