Known for his support for Bitcoin, Miami Mayor Francis Suarez continues his Bitcoin-related projects.
Speaking at Real Vision’s event in Las Vegas, the Mayor of Miami said that he plans to receive some of his 401(k) payments under his retirement savings plans in Bitcoin.
Francis Suarez, the first US lawmaker to start receiving a portion of his salary in Bitcoin last month, wants to spend some of his retirement savings payments in Bitcoin.
“This is a personal choice. I just think Bitcoin is a good asset to invest in. I think it will definitely gain value in the future. This is something I believe in.”
Saying that he is investigating ways to receive his 401k payments in Bitcoin, Suarez said, “Absolutely, yes” when asked if the payment of retirement savings payments in cryptocurrencies will begin in 2022.
Expressing that despite the decline in Bitcoin, Miami citizens, who trust Bitcoin like himself, are willing to receive payments with Bitcoin, the president continued his words:
“Blockchain and Bitcoin have been so successful because people trust them. They trust it because they see Blockchain and Bitcoin as an open source and non-manipulable system. And I think this system is the source of the popularity and success of Bitcoin and Blockchain.”
Seeking to accelerate the adoption of Bitcoin, Suarez recently announced that he will pay Miami residents a “Bitcoin return” from profits from the city’s own cryptocurrency, MiamiCoin.
Francis Suarez also added that they are working to make Miami residents soon be able to pay their municipal fees in Bitcoin.
*Not investment advice.