Suarez Reports 300% Gains Amid Market Volatility

Miami Mayor Francis Suarez recently stated that his decision to take his salary in Bitcoin has yielded approximately 300% returns, expressing confidence despite recent market volatility. In a discussion with Fox Business, Suarez noted he isn’t concerned about Bitcoin’s price fluctuations, as his investment continues to perform well. He specified that he began receiving payments when Bitcoin was valued at around $30,000 per coin.

However, this claim has raised questions when compared with the public timeline of his announcement. Records show that when Suarez declared in November 2021 that he would receive his next paycheck entirely in Bitcoin, the cryptocurrency was trading at approximately $64,000. The mayor’s office has not yet clarified this significant price discrepancy.

A Broader Vision for Crypto Adoption

Despite the questions surrounding his personal returns, Suarez remains a vocal proponent of digital assets. He has emphasized that his interest extends beyond daily price movements, focusing instead on Bitcoin’s potential as a transparent and stable store of value. The mayor often frames his crypto-friendly policies as part of a larger strategy to embrace innovation, including Decentralized Finance (DeFi) and artificial intelligence.

His advocacy for the crypto market predates his salary decision, with public support dating back to at least December 2020. Before taking his government pay in Bitcoin, Suarez had already reported personal holdings of both Bitcoin and Ethereum. He continues to champion Miami as a hub for technological and financial innovation, viewing his crypto salary as a pioneering move for a public official.