Vocal BTC advocate and Miami Mayor, Francis Suarez, has disclosed that he is still receiving his salary in the leading digital asset. But he clarified that he has other income sources with which he receives his payments in fiat.
BTC Crash Isn’t Stopping Suarez From Receiving His Salary In Bitcoin
The crypto market is still on a downtrend over the last couple of weeks. BTC continues to trade in the $30K range. It is currently way off its peak price set late last year. Despite the events in the crypto market, the Miami Mayor maintains his bullish stance about BTC.
During an interview held in Switzerland at the World Economic Forum, the Miami Mayor confirms that he still receives his salary in the leading digital asset. But he also explained that he receives other paychecks in fiat.
“I want to state for the record that the BTC payment isn’t the only salary that I receive. I might have made a different decision if I have one income source. Anyone with multiple income sources might also make a similar decision as mine.”
Suarez shares his opinion about the Terra crash. He remarked that the collapse of the network’s token and stablecoin hasn’t changed his views about Bitcoin. He further said that investing in any volatile market is always a risk. He added that crypto and tech markets are highly volatile markets. However, “no risk, no gain,”
“Authorities would always want to make policies that guard investors against losses. However, it is almost impossible for the government to make this happen. Nevertheless, risks are what make investing interesting. It is also a crucial factor to win in other areas of life.”
Suarez’s View About BTC Remains Unchanged
Francis Suarez is one of the most vocal advocates of digital assets. Last summer, the Miami Mayor stated that he has BTC and eth as part of his investment portfolio. A few months after making his crypto holdings public, he also indicated that he would like to be receiving his salary in BTC.
Following the approval of his request, Suarez became the first American politician to do so. Using information available to the public about the annual salaries of politicians, Suarez earns between 5 and 7 BTC yearly.
Last year, the Miami Mayor is of the opinion that BTC has a unique advantage over other cryptos. He claims that BTC is a system of exchange whose value isn’t affected by any economy. He also claims that manipulating the BTC market is almost impossible.
Hence, Suarez argued that BTC could give people more freedom with their finances and eliminate favoritism common in our current world. During a recent interview, Suarez said he desires each sector of the US economy can have an inclusion of BTC.
Many retail and institutional investors have been using the current BTC price dip to increase their BTC holdings. Many of them are purchasing it because they believe in its BTC’s long-term value.