In Brief:
- At Real Vision’s Takeover event, Miami Mayor Francis Suarez announced his plans to take a part of his 401k in bitcoin.
- Calling Blockchain technology an “open-source and an un-manipulatable system”, Suarez reiterated his belief in Bitcoin.
- The mayor revealed that with the help of a third-party payment processor Strike, he has started receiving salary payments in Bitcoin.
At Real Vision’s Takeover event held in Las Vegas, Miami Mayor Francis Suarez announced his plans to take part of his 401k in bitcoin.
Calling the decision to take part of his retirement savings in Bitcoin as a ‘personal choice’, Mayor Francis Suarez explained, “I just think it is a good asset to be invested in. I think it’s one that’s obviously going to appreciate over time. It’s one that I believe in.”
Emphasizing on his ‘confidence in Bitcoin’, Suarez said that the reason Blockchain technology is succeeding is due to people’s confidence in it which in turn is a result of its “open-source and an un-manipulatable system”.
Suarez hinted that Miami residents would soon be able to pay their municipal fees in bitcoin in future. Mayor Suarez also affirmed that the payment to his retirement savings in crypto would start in 2022.
During this talk, the mayor revealed that with the help of a third-party payment processor Strike, he has started receiving salary payments in Bitcoin.
Mayor Suarez has always been a staunch advocate of cryptocurrency. In November, Suarez had revealed his plans to give out a “bitcoin yield” from the staking of the city’s own cryptocurrency, MiamiCoin to Miami citizens.
