Miami Mayor Announces 300% Salary Increase in Bitcoin
Date: 2025-11-07 Author: Oliver Abernathy Categories: CRYPTO PAYMENTS
Miami Mayor Francis Suarez told Fox Business in an interview that he isn't worried about the decline in cryptocurrency prices. He said the portion of his salary he received in Bitcoin has increased by approximately 300%. Suarez noted that he invested when the BTC price was around $30,000, and even with the current fluctuations, his assets remain positive.
As a reminder, back in November 2021, Suarez announced his decision to receive part of his mayoral salary in Bitcoin. According to the Miami Herald as of July 2024, his annual income is $97,000, with an estimated net worth of approximately $4.45 million. It is unknown whether he continues to receive payments in cryptocurrency.
The mayor made his statement while attending the America Business Forum, where US President Donald Trump also spoke. When asked by the moderator about his reaction to the cryptocurrency market crash, Suarez replied:
"No, I'm not worried. My payout was at $30,000, so even now that's an increase of about 300%. When Bitcoin rose above $120,000, the gains were up 400%.
Suarez emphasized that he doesn't attach importance to daily price fluctuations. In his view, Bitcoin is not just a speculative asset, but a hedge against macroeconomic risks. He called it part of a digital evolution moving toward decentralization and new technologies like artificial intelligence.
The mayor emphasized that he is not interested in short-term volatility, but in the long-term changes occurring in the economy and technology. He stated that topics such as cryptocurrencies, AI, and digital ecosystems are becoming key to the future development of society.
The context of the politician's statements suggests that the Bitcoin purchases could have occurred at an average price of around $30,000. However, in November 2021, when he announced his decision to receive a portion of his salary in Bitcoin, the cryptocurrency's price fluctuated between $50,000 and $65,000. Therefore, the exact details of his investments remain unclear. In November 2022, Suarez again claimed to receive a portion of his salary in Bitcoin, but there is no confirmation of this.
Besides Suarez, former New York City Mayor Eric Adams made a similar decision, also receiving payments in Bitcoin. After the recent elections, he was replaced by Socialist Zohran Mamdani. Suarez mentioned Adams, stating that the new mayor's socialist policies contradict fundamental American principles: capitalism, individual freedom, and the pursuit of personal success.
