While some market participants are panicking amid the recent crash, the most fervent HODLers are buying the dip. El Salvador’s president Nayib Bukele just announced a purchase of another 410 Bitcoin for $15 million. A Nation-State Buys The Dip Bukele announced his recent purchase in a tweet moments ago, faking out some of his followers. The president – known for trading the nation’s Bitcoin from his phone – last purchased Bitcoin in December. After bagging 21 Bitcoin for $1 million,…
While Jerome Powell may claim that Bitcoin has effectively failed as a currency, other government officials beg to differ. The Mayor of Miami – Francis Suarez – recently suggested that he receive his next personal paycheck in Bitcoin. This is yet another of the mayor’s public displays of affection for cryptocurrencies, as he continues supporting their adoption.
Suarez Requests Payment in Bitcoin
Suarez showed enthusiasm for the idea over Twitter earlier today, in response to Anthony Pompliano. The Best Business Show host asked which American politician would be the first to accept their salary in Bitcoin. Many of his followers expected Cynthia Lummis – the senator that recently thanked god for Bitcoin’s existence.
However, Suarez quickly jumped at the idea. He quote-tweeted Pompliano’s question, and responded saying he would take his entire next paycheck in Bitcoin.
“I’m going to take my next paycheck 100% in bitcoin…problem solved! @Sarasti can you help?”
Pompliano then commented on the mayor’s tweet, calling on Jack Mallers to help make this vision a reality. Mallers – Founder of Strike, a custodial Bitcoin wallet – recently launched a service to help people receive their income in Bitcoin. Coinbase also started a similar program, effectively offering income in a variety of other cryptocurrencies.
Mike Sarasti – CIO of the City of Miami – was ahead of the podcast host. He replied that he’d already sent the mayor a link to register with Strike. He even experimented with Strike’s Bitcoin payment feature in advance and attested to its effectiveness.
Miami: America’s Crypto Capital
It’s no secret that Mayor Francis Suarez is a huge fan of cryptocurrencies. He has made countless public appearances singing their praises, and launched numerous initiatives fostering their adoption.
For starters, the mayor told Bloomberg last week that he’d like to pay government employees in Bitcoin. He’d already done this with Sarasti, so committing to receive his own salary the same way is only right. Generally, the governor believes in the appreciative power of the primary cryptocurrency. He even backed a proposal to see the city’s authorities invest in it – though this has been delayed since February.
Nevertheless, the city was also willing to implement its own state-sponsored cryptocurrency called “Miamicoin”. In another conversation with Anthony Pompliano, the mayor said that this protocol could eventually offset Miami’s entire tax budget.