Miami mayor Francis Suarez claims he’s up 300% on his Bitcoin salary

Miami Mayor Francis Suarez, who started to take Bitcoin as salary in late 2021, said he’s unfazed about the recent volatility in the crypto market, claiming he’s now up around 300% on his Bitcoin paychecks.

Speaking to Fox Business on Wednesday, the crypto-friendly Mayor was asked if he was “concerned” about Bitcoin (BTC) following the recent dip under $100,000, with most of the crypto market also bleeding over the past week

“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 said, adding:

“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 said he’s more focused on the evolution of decentralized finance, crypto and AI than tracking daily price swings

Source: Fox Business## Suarez’s bold move to take a Bitcoin salary

Suarez’s move to take some of his salary in BTC in 2021 was seen as a bold move from a politician, especially given the unclear regulatory landscape of crypto in the US at the time

Related: Top 5 cities where you can pay rent entirely in Bitcoin

Suarez initially announced that he would take his first paycheck in BTC back in early November 2021, as he aimed to be the first lawmaker at the state or federal level to do so

“I’m going to take my next paycheck 100% in bitcoin…problem solved!,” he said at the time.

Suarez may have crossed some wires. The mayor claims he was paid when Bitcoin was at $30,000, but BTC was already $64,000 around November 2021 at the time he announced he would be taking his next paycheck in Bitcoin.

However, Suarez claimed to have owned BTC and Ether (ETH) prior to getting his crypto paychecks, and publicly backed the crypto market as far back as December 2020

Magazine: Cliff bought 2 homes with Bitcoin mortgages: Clever… or insane?

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