Francis Suarez, the mayor of Miami, one of the largest US cities, has said that he is drawing his salary in the same cryptocurrency, despite a nearly 40 percent drop in bitcoin over the past two months. “I want to make it clear that this is not my only salary. If salary is the only source of income for a person, then taking salary in bitcoin is a different decision,” he told an event of the World Economic Forum in Davos, Switzerland. “
Suarez, a member of the Republican Party, decided to take his salary in bitcoin last year. Announcement Had it. Along with this, he also warned people about the risks and volatility associated with cryptocurrencies. Suarez, who plans to make Miami a crypto hub, said that the massive drop in stablecoin TerraUSD has not changed his approach to promoting the crypto industry in Miami. He said that he is focusing more on the utility of bitcoin. Suarez said there is a difference between protecting people from fraud and protecting them from harm. He gave the example of volatility in the form of tech stocks, which have a lot of volatility.
last month in miami Bitcoin The conference was held. Many firms related to the crypto segment used this conference to expand the network, present ideas and announcements related to the crypto industry. Miami is cementing its reputation as one of the key locations to develop blockchain technology.
Last year, New York City and Silicon Valley were the leaders in funding blockchain startups, raising $6.5 billion and $3.9 billion, respectively. Crypto exchange FTX last year bought the branding rights for the NBA Arena in Miami, replacing American Airlines. Blockchain.com has also opened an office in the Wynwood District of Miami. Some other tech firms and investors are also starting their business in the same district. Peter Smith, co-founder and CEO of Blockchain.com, says that the facilities needed for the tech sector are readily available in Wynwood. He said that Wynwood has a large number of tech companies like San Francisco and New York.