Miami's re-elected mayor to take a share of $401,000 from his retirement savings in Bitcoin

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Published 3 years ago

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Miami's re-elected mayor to take a share of $401,000 from his retirement savings in Bitcoin

Peru, Lima, Lima,

Published 3 years ago

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The re-elected mayor of Miami, Francis Suárez, has now announced his plans to take a portion of the savings of $401,000 for retirement, in Bitcoin (BTC) just a month after he began receiving his salary in BTC.

Miami introduces its own digital currency

Shortly after becoming the first legislature of the United States to accept a part of their salary in Bitcoin, Suarez wants to dedicate a portion of their retirement savings into Bitcoin based on "a personal choice," he said in an interview with Real Vision:

"I just think it's a good asset to invest in. I think it's an asset that's obviously going to appreciate over time. It's one that I believe in."

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Suárez stressed that the success of Bitcoin is closely tied to trust in the system, which is inherently an "open source and unmanipulable system." The mayor revealed that he has started receiving salary payments in Bitcoin with the help of a third-party payment processor, Strike.