Miami Mayor’s Bitcoin Salary Soars 300% as He Shrugs Off Volatility

Miami Mayor Francis Suarez told Fox Business he is not concerned about cryptocurrency market fluctuations, noting that his Bitcoin salary has increased by 300% since he began receiving it. Suarez, one of the first ￰0￱ to adopt crypto-based compensation, first announced in November 2021 that he would take at least part of his mayoral salary in ￰1￱ to a Miami Herald report in July 2024, Suarez’s annual salary is $97,000, and his net worth totals $4.45 ￰2￱ present, there is no confirmed evidence that he continues to receive his salary — or part of it — in ￰3￱ Says Bitcoin Is More Than a Salary Speaking from the sidelines of the America Business Forum, which featured ￰4￱ Donald Trump and other leaders, Suarez dismissed fears over the crypto downturn.

“No, because I got paid in Bitcoin for $30,000. So it’s still a 300% ￰5￱ it the rate was above $120,000, it was a 400% increase,” Suarez told Fox ￰6￱ explained that he’s not worried about daily price movements, calling Bitcoin a macroeconomic hedge asset with “hardcoded monetary properties” that people increasingly believe in. “I’m more interested in this digital revolution — where decentralized systems, cryptocurrency, and AI are ￰7￱ are the topics we’ll be discussing at the America Business Forum,” he ￰8￱ and Market Context Based on his statements, Suarez likely received part of his salary in Bitcoin when the asset was worth about $30,000. However, Bitcoin only reached those levels in early 2022 during the crypto winter — suggesting that his average purchase price may have been closer to that mark rather than the 2021 highs near $65,000.

In November 2022, Suarez confirmed he was still receiving a portion of his pay in Bitcoin, though no official updates have followed ￰9￱ isn’t alone among politicians exploring crypto-based ￰10￱ New York City Mayor Eric Adams also took part of his pay in Bitcoin but later lost his seat to Socialist candidate Zohran ￰11￱ mentioned Adams in his remarks, noting that Mamdani’s policies “run counter to traditional ￰12￱ such as capitalism, freedom, and personal opportunity.”