{"id":15204,"date":"2021-12-11T16:54:02","date_gmt":"2021-12-11T16:54:02","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/miami-mayor-francis-suarez-plans-to-take-a-fraction-of-his-401k-in-bitcoin\/"},"modified":"2021-12-11T16:54:02","modified_gmt":"2021-12-11T16:54:02","slug":"miami-mayor-francis-suarez-plans-to-take-a-fraction-of-his-401k-in-bitcoin","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/miami-mayor-francis-suarez-plans-to-take-a-fraction-of-his-401k-in-bitcoin\/","title":{"rendered":"Miami Mayor Francis Suarez Plans to Take a Fraction of His 401k in Bitcoin"},"content":{"rendered":"

During the first week of November, the reelected Miami mayor Francis Suarez explained that he would receive part of his salary in bitcoin via the payment processor Strike. A month later, speaking at Real Vision\u2019s Takeover event in Las Vegas, Suarez revealed he plans to take part of his 401k in bitcoin as well.<\/strong><\/p>\n

Pro-Bitcoin Miami Mayor Plans to Convert a Portion of His 401k Into Crypto<\/h2>\n

Miami mayor Francis Suarez is a big fan of bitcoin (BTC<\/a>) and he has spoken about his fascination with cryptocurrency on various occasions. In mid-October, Suarez told the press<\/a> that he was building Miami into America\u2019s crypto capital and the mayor stressed that cryptocurrency is a \u201cmajor priority\u201d for him. Suarez also told<\/a> Chinese miners to relocate to Miami<\/a> and leverage Florida\u2019s abundant nuclear energy after China banned bitcoin mining.<\/p>\n

Last month, Suarez revealed<\/a> he was utilizing the third-party payment processor Strike to get a portion of his paycheck converted into bitcoin. Additionally, a growing number of mayors in cities across the U.S. have explained<\/a> they too have an interest in getting paid in bitcoin. Now Miami mayor Francis Suarez is taking it a step further and converting some of his retirement money into bitcoin as well. Speaking with the Real Vision managing editor Samuel Burke in Las Vegas, Suarez remarked that it was a \u201cpersonal choice.\u201d<\/p>\n

\u201cI just think it is a good asset to be invested in. I think it\u2019s one that\u2019s obviously going to appreciate over time. It\u2019s one that I believe in,\u201d Suarez said. Burke asked the Miami mayor if he would invest his 401k in bitcoin next year and Suarez replied, \u201cOh yeah! Definitely.\u201d The Miami mayor further added:<\/p>\n

Blockchain has succeeded so well because people have confidence in it. They have confidence in it because they see that it\u2019s an open-source and an un-manipulatable system. And I think that is the source of the popularity and why it\u2019s done so well.<\/p>\n

Suarez Discusses Obtaining a Crypto Yield From Miamicoin, Paying Municipal Fees in Bitcoin<\/h2>\n

Suarez explained last month that Miami residents may soon get access to a \u201cbitcoin yield\u201d that stems from the city\u2019s own crypto-asset called \u201cMiamicoin (MIA).\u201d New York City also has its own coin called \u201cNYC\u201d and both NYC and MIA can be mined. The Miami mayor also told Real Vision\u2019s managing editor that Miami residents will soon be able to pay municipal fees in BTC<\/a>.<\/p>\n

\u201cWe just had an industry day for bitcoin exchanges, and we\u2019re in the process of putting out an RFP (request for proposal) on that,\u201d Suarez remarked during his interview. The Miami mayor told Burke that because he has income stemming from the private sector it gives him the right to invest his 401k in crypto. \u201cI do have private-sector income,\u201d Suarez concluded. \u201cSo, in fairness, my mayoral salary is not 100% of my income. So it\u2019s a part of my income I can do this type of investment with.\u201d<\/p>\n

What do you think about Miami mayor Francis Suarez getting part of his 401k in bitcoin? Let us know what you think about this subject in the comments section below. <\/strong><\/em><\/p>\n

Bitcoin News
\nNews, 401k, Bitcoin, chinese miners, Florida, Francis Suarez, MIA, Miami Coin, miami mayor, Real Vision, Samuel Burke, Takeover Event<\/p>\n","protected":false},"excerpt":{"rendered":"

During the first week of November, the reelected Miami mayor Francis Suarez explained that he would receive part of his salary in bitcoin via the payment processor Strike. A month later, speaking at Real Vision\u2019s Takeover event in Las Vegas, Suarez revealed he plans to take part of his 401k in bitcoin as well. Pro-Bitcoin…<\/p>\n","protected":false},"author":0,"featured_media":15205,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-15204","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/15204"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=15204"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/15204\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/15205"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=15204"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=15204"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=15204"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}