Access Restricted for EU Residents
You are attempting to access a website operated by an entity not regulated in the EU. Products and services on this website do not comply with EU laws or ESMA investor-protection standards.
As an EU resident, you cannot proceed to the offshore website.
Please continue on the EU-regulated website to ensure full regulatory protection.
Thursday Nov 6 2025 01:20
2 min
Miami Mayor Francis Suarez, who began receiving his salary in Bitcoin in late 2021, stated he remains unconcerned about the recent volatility in the cryptocurrency market, claiming his Bitcoin paychecks are now up approximately 300%.
Speaking on Fox Business Wednesday, the crypto-friendly mayor was asked if he was “concerned” about Bitcoin (BTC) following its recent dip below $100,000, amid a broader market downturn. Suarez responded, “No, because I got paid at $30,000, so it’s up 300%. It was actually up to 400% when it was up to $120,000, so I’m not concerned about everyday market swings from one day to the other.”
He added, “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.” Mayor Suarez emphasized that his focus extends beyond daily price fluctuations, encompassing the evolution of decentralized finance (DeFi), crypto, and artificial intelligence (AI).
Suarez's decision to accept a portion of his salary in BTC in 2021 was widely regarded as a bold move for a politician, particularly given the then-uncertain regulatory landscape surrounding crypto in the United States.
Notably, Suarez initially announced his intention to receive his first Bitcoin paycheck in early November 2021, aiming to become the first state or federal lawmaker to do so. “I’m going to take my next paycheck 100% in bitcoin…problem solved!,” he declared at the time.
However, there appears to be a discrepancy. While Suarez claims he was paid when Bitcoin was at $30,000, BTC was already trading around $64,000 in November 2021, when he announced his intention to receive his next paycheck in Bitcoin.
Regardless, Suarez asserted that he owned Bitcoin and Ether (ETH) prior to receiving his crypto paychecks, and has publicly supported the crypto market since December 2020.
Risk Warning: This article is provided for informational purposes only and does not constitute investment advice, investment research, or a recommendation to trade. The views expressed are those of the author and do not necessarily reflect the position of Markets.com. When considering shares, indices, forex (foreign exchange), and commodities for trading and price predictions, remember that trading CFDs involves a significant degree of risk and may not be suitable for all investors. Leveraged products can result in capital loss. Past performance is not indicative of future results. Before trading, ensure you fully understand the risks involved and consider your investment objectives and level of experience. Cryptocurrency CFD trading restrictions may apply depending on jurisdiction.
Latest
View all
Thursday, 23 July 2026
6 min
Thursday, 23 July 2026
3 min
Thursday, 23 July 2026
4 min
Thursday, 23 July 2026
Indices
Gold Price Today, July 24: Gold Slips to $4,043 as Dollar and Yields Rise
Thursday, 23 July 2026
Indices
South Korea Tightens Rules on Single-Stock Leveraged ETFs, Raises Cash Requirement to KRW 30 Million from July 31
Thursday, 23 July 2026
Indices
Intel Q2 Revenue Jumps 25% on AI Demand, Beats Estimates as Strong Q3 Outlook Lifts Shares
Thursday, 23 July 2026
Indices
Crypto Prices Today July 24: Bitcoin Steadies Near $65K as ETF Demand Counters Geopolitical Uncertainty
Thursday, 23 July 2026
Indices
Oil Price News Today: Brent Slips Below $100 as Traders Weigh US-Iran Tensions
Thursday, 23 July 2026
Indices
US Treasury Says Yen Is Deeply Undervalued, Urges Bank of Japan to Continue Rate Hikes
EN
