It started with a tweet by long-standing Bitcoin advocate and popular podcaster Anthony “Pomp” Pompliano, of the “Pomp Podcast”. Pomp posed the question as to which US politician would rise to the occasion and accept their salary in bitcoin. Miami’s Bitcoin-friendly mayor, Francis Suarez, accepted the challenge and the rest is history.
The Year of Bitcoin Payments
As Bitcoin becomes increasingly mainstream, we are seeing more and more news of bitcoin being accepted as payment. Initially, we saw it with NFL players and football club sponsorships, but of late it has been extended to include any US employee who wishes to get paid in bitcoin.
And this hasn’t been limited to the US, as Aussie-based Living Room of Satoshi allows employees to automatically dollar-cost-average into bitcoin as they see fit.
Suarez Looks to Make Miami the Crypto Capital of the US
Mayor Suarez is quickly becoming one of the most popular politicians in the US, having just won re-election in a landslide victory in which he secured an astounding 79 percent of the vote.
In mid-October, Suarez said that paying Miami government employees in bitcoin was “a major priority” and further, he expressed a strong interest in putting bitcoin on Miami’s balance sheet. He said he also wanted to allow residents to pay their taxes in bitcoin.
Source: Bitcoin Magazine
And then in September, Suarez launched MiamiCoin, a crypto project aimed at eliminating the need for residents to pay taxes by participating in the mining and staking of the coin.
Whatever your view on his politics, Suarez doesn’t appear to conform to the typical mould you’d expect from a politician – he makes promises and then acts on them with haste.
While New York has traditionally been the financial linchpin of the East Coast, there are growing signs that amid ongoing pandemic-related restrictions, high taxes, increased crime and bureaucratic red tape, more traditional finance and crypto businesses are relocating to Miami, a city perceived as being far friendlier to both businesses and residents alike. Mayor Suarez should take a good deal of credit for this trend.
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