Francis Suarez, the mayor of Miami and an outspoken supporter of cryptocurrencies, revealed that his presidential campaign is now taking contributions in the popular cryptocurrency Bitcoin (BTC).
The mayor of Miami stated in an interview that “officially, my campaign is accepting Bitcoin.” The declaration is consistent with the mayor’s long-held opinion on cryptocurrency.
Speaking on Bitcoin, Suarez asserted that while these emerging technologies are immune to human ulterior motives, political aspirations, etc., they will open up prospects for wealth creation that will be more accessible to all.
FrancisSuarez.com will take donations starting at just 0.00034 Bitcoin, or $1.
Suarez criticises the Biden administration for its handling of cryptocurrency.
The mayor of Miami thinks that the Biden administration’s worst mistake was their ignorance of cryptocurrencies.
He pointed out that rather than creating a clear regulatory framework, their strategy has tended to focus more on regulating through enforcement.
Suarez emphasised the significance of categorising certain digital assets and putting clear standards and rules in place, particularly with regard to asset custody.
Suarez also voiced his objection to the digital currency issued by the central bank. He said that this decision will be influenced by the widespread opposition to the federal government having access to people’s assets and financial information.
Suarez asserted that he didn’t think the action was especially innovative or had any ground-breaking qualities.
He said that if he were elected president of the United States, he would outlaw CBDC.
Suarez enters the race for president against Trump and DeSantis.
In June, Suarez declared his intention to run for president, entering the field of GOP candidates that already included front-runners Florida Governor Ron DeSantis and former President Donald Trump.
Given the mayor of Miami’s longstanding support of digital assets, with a focus on bitcoin, the move to enable bitcoin donations doesn’t come as a surprise to the crypto community.
He has often stated his conviction that bitcoin has the power to democratise wealth distribution for all Americans, leaving an irreversible imprint on the future.
He became the first US politician to receive a portion of his salary in bitcoin, demonstrating his devotion to this digital revolution, and vowed to make Miami a centre for Bitcoin activity.
Suarez has not yet found success in his research on cryptocurrencies.
MiamiCoin (MIA) was introduced by the mayor of Miami earlier in 2021. Suarez intended to use the MiamiCoin to regularly deliver bitcoin-based stimulus to Miami residents, much as dividends are given to stockholders of corporations.
However, since its launch, the value of the cryptocurrency has fallen by over 95%.
Despite this setback, Suarez continues to actively engage with the industry, highlighting the need for a president who is knowledgeable on artificial intelligence and cryptography, which he believes the country needs.