Miami’s Mayor Continues To Receive Salary In Bitcoin
Miami’s Mayor Francis Suarez continues to receive his salary in Bitcoin, he was at the recent WEF gathering in Davos (no further comment on THAT event) and explained and expounded on this and other topics in cryptocurrency.
The cryptocurrency market has significantly tumbled in the past few weeks. Bitcoin, for one, currently struggles to maintain $30,000 and sits far away from its all-time high last year.
Nonetheless, the negative trend has not changed Miami’s mayor stance on the asset. During a panel at the World Economic Forum in Switzerland, he asserted that he still takes his salary in BTC. On the other hand, the Republican clarified he receives only one of his paychecks this way:
“I will note, for the record, that it’s not my only salary. It’s a different decision than if a person was deciding to take their salary in Bitcoin if it was the only source of income for them.”
Suarez touched upon the Terra fiasco, noting that the price collapse of LUNA/UST has not reflected on his BTC vision. In his view, investing in crypto or investing in tech stocks could be dangerous due to the enhanced volatility of the assets, but one can not profit without taking risks:
“Government has had a tendency over time to try and protect people against losses, and you can’t protect people against losses. That’s the American system. That’s what makes investing. That’s the risk component to winning as well.”