Miami Mayor Will Accept Next Paycheck in Bitcoin
The mayor will be paid in Bitcoin alongside other city workers who choose to do so.
- Miami mayor Francis Suarez says that he will accept his next paycheck entirely in the form of Bitcoin.
- Last month, Suarez introduced a plan to allow all of the city's municipal workers to accept crypto paychecks.
- Suarez also wants the city to hold Bitcoin; he also plans to allow residents to pay bills and taxes in Bitcoin.
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Miami mayor Francis Suarez has committed to taking his next paycheck in Bitcoin along with other city workers.
Suarez Will Be Paid in Bitcoin
In a Twitter comment today, Suarez noted that he would take his next paycheck in the form of Bitcoin.
I’m going to take my next paycheck 100% in bitcoin…problem solved! @Sarasti can you help? https://t.co/v4YdPZ0tYc
— Mayor Francis Suarez (@FrancisSuarez) November 2, 2021
Suarez called on Chief Information Officer Mike Sarasti to help set up the payment. It is unclear whether Sarasti himself will accept Bitcoin.
The decision is part of a larger opportunity available to all of Miami’s municipal workers. In October, Suarez announced a plan that would allow city workers to accept their paychecks in Bitcoin. At that time, he called allowing workers to accept Bitcoin “a major priority,” adding that he wants to “differentiate [Miami] as a crypto capital.”
The proposal could also allow residents of Miami to have the option of paying municipal fees and taxes by spending Bitcoin, if that plan is allowed by county regulators and authorities.
Suarez additionally wants to see the city hold Bitcoin on its balance sheet, though this is not currently allowed in Florida cities.
Miami Is a Crypto Hotspot
Suarez previously helped the city launch its own cryptocurrency, MiamiCoin. The custom token was the first cryptocurrency to launch in partnership with the open protocol CityCoins.
Outside of city government, Miami and Florida have become a crypto hotspot. Crypto exchange FTX recently purchased naming rights to the former American Airlines Arena in Miami.
The NFL team Miami Dolphins have also worked with crypto by partnering with Litecoin and accepting crypto payments.
Disclaimer: At the time of writing this author held less than $100 of Bitcoin, Ethereum, and altcoins.