The longtime crypto advocate began taking his paycheck in Bitcoin in 2021 and says he remains unfazed by short-term volatility, focusing instead on the technology’s long-term potential.
Suarez Says His Bitcoin Paychecks Have Tripled in Value
Miami Mayor Francis Suarez — one of the earliest U.S. politicians to take his salary in Bitcoin — says he’s sitting on a 300% gain from his crypto paychecks, even after Bitcoin’s recent slide below $100,000.
In an interview with Fox Business on Wednesday, Suarez said he began receiving his salary in late 2021, when Bitcoin was priced around $30,000. With BTC now trading near $102,966, the mayor says his investment has more than tripled.
“No, I’m not concerned,” Suarez said when asked about Bitcoin’s drop below six figures. “I got paid at $30,000, so it’s up 300%. It was actually up 400% when it hit $120,000. I’m not worried about daily market swings — I’m focused on the long-term macro impact.”
A Politician Betting on Decentralization
Suarez said his interest in Bitcoin goes beyond price movements, emphasizing its role as a store of value and a transparent monetary system.
“I’m more concerned with the macro impact of having a store of value that people have faith in, that has a money creation system known through the code,” he said.
The mayor added that he’s paying closer attention to developments in decentralized finance (DeFi) and artificial intelligence (AI) than to daily price fluctuations.
Miami’s Crypto-Friendly Leadership
Suarez first announced his decision to take his paycheck in Bitcoin in November 2021, making him the first U.S. lawmaker at the city or state level to do so.
“I’m going to take my next paycheck 100% in Bitcoin… problem solved!” he posted on X (formerly Twitter) at the time.
While Suarez’s claim of being paid at $30,000 may not align perfectly with Bitcoin’s price history — BTC was trading around $64,000 when he made the announcement — he has said he already owned Bitcoin and Ether (ETH) prior to taking his salary in crypto.
A Longtime Crypto Advocate
Suarez has been a vocal supporter of Miami’s push to become a global crypto hub, backing initiatives such as MiamiCoin and advocating for blockchain integration in city services.
Despite recent crypto market volatility, Suarez says his faith in Bitcoin and digital assets remains strong.
“Crypto and AI are shaping the future,” he said. “That’s where my focus is — not on whether Bitcoin moves a few thousand dollars up or down in a day.”
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.