Miami Mayor Francis Suarez has officially announced that his Presidential campaign will be accepting donations in Bitcoin. Suarez, a vocal advocate for cryptocurrencies, believes that technologies like Bitcoin can provide democratizing opportunities for wealth creation. He argues that these technologies are not susceptible to human ulterior motives or political goals. The official website for his campaign, FrancisSuarez.com, is accepting Bitcoin donations as small as 0.00034 Bitcoin, which is equivalent to $1.
Suarez has been critical of the Biden administration’s lack of comprehension when it comes to cryptocurrency. He believes that their approach has focused more on regulation through enforcement rather than establishing a clear regulatory framework. The Mayor stresses the importance of categorizing specific digital assets and implementing unambiguous guidelines and rules, especially regarding asset custody.
In addition, Suarez expressed his opposition to the idea of a central bank digital currency (CBDC). He argues that the general aversion towards the federal government having access to individuals’ financial information and holdings would lead to this decision. Suarez believes that a move towards CBDC lacks genuine innovation and fails to offer any groundbreaking attributes. If elected President, he stated that he would ban CBDC.
Suarez announced his candidacy for President in June, joining other GOP nominations such as former President Donald Trump and Florida Governor Ron DeSantis. The decision to accept Bitcoin donations for his campaign did not come as a surprise to the crypto community, given his previous support and emphasis on digital assets, particularly Bitcoin. Suarez has consistently expressed his belief in the potential of Bitcoin to democratize wealth distribution for all Americans.
The Miami Mayor has made efforts to transform Miami into a hub for Bitcoin activities. He made history by becoming the first US politician to receive a portion of his salary in Bitcoin, demonstrating his commitment to the digital revolution. However, Suarez’s exploration into crypto has faced setbacks. Earlier this year, he launched MiamiCoin (MIA) with the intention of using it to provide regular Bitcoin-based stimulus to Miami residents. Unfortunately, the cryptocurrency’s value has dropped by approximately 95% since its inception.
Regardless of these setbacks, Suarez maintains a strong engagement with the crypto industry. He believes that the nation needs a President who has a deep understanding of cryptocurrency and artificial intelligence technologies. According to Suarez, these technologies are crucial for the future of the United States.
In conclusion, Miami Mayor Francis Suarez has officially announced that Bitcoin donations will be accepted for his Presidential campaign. As a vocal supporter of cryptocurrencies, Suarez believes that technologies like Bitcoin can bring about democratizing opportunities for wealth creation. He also criticizes the Biden administration’s approach to cryptocurrency regulation and expresses his opposition to a central bank digital currency. Despite setbacks in his own crypto endeavors, Suarez remains committed to advocating for the potential of digital assets to shape the future of the United States.
