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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 represents only the author’s views and is for reference only. It does not constitute investment advice or financial guidance, nor does it represent the stance of the Markets.com platform.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 could result in capital loss.Past performance is not indicative of any future results. This information is provided for informative purposes only and should not be construed to be investment advice. Trading cryptocurrency CFDs and spread bets is restricted for all UK retail clients.
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