Miami Mayor Francis Suarez has announced that his Presidential campaign will now accept donations in Bitcoin (BTC). This move aligns with Suarez’s long-standing support for cryptocurrencies and his belief in their potential to democratize wealth creation.
In an interview, Mayor Suarez stated, “officially, my campaign is accepting Bitcoin.” He emphasized that developing technologies like Bitcoin offer opportunities for wealth creation that are not influenced by human motives or political goals.
Donations to Francis Suarez’s campaign website, FrancisSuarez.com, can be made in as little as 0.00034 Bitcoin, equivalent to $1.
However, Mayor Suarez has criticized the Biden administration’s handling of cryptocurrencies, particularly their lack of comprehension and clear regulatory framework. He believes that the administration’s approach has focused more on regulation through enforcement rather than establishing guidelines and rules.
Suarez also expressed his opposition to the central bank digital currency (CBDC) and stated that he would ban its implementation if he were to become President. He argued that the aversion towards the federal government having access to individuals’ financial information and holdings drove his decision and that CBDCs lack genuine innovation.
Suarez joined the race for the Presidency in June, alongside other GOP nominations, including former President Donald Trump and Florida Governor Ron DeSantis. His acceptance of Bitcoin donations comes as no surprise to the crypto community, as he has consistently supported digital assets, particularly Bitcoin.
Mayor Suarez has made significant efforts to position Miami as a hub for Bitcoin activities. He became the first US politician to receive part of his salary in Bitcoin and launched MiamiCoin (MIA) earlier this year. However, the value of MiamiCoin has plummeted by approximately 95% since its inception.
Despite this setback, Suarez remains committed to the crypto industry and emphasizes the need for a President who understands crypto and artificial intelligence technologies. He believes that the nation’s future relies on leaders who can navigate these emerging technologies effectively.
