Miami Mayor Francis Suarez said that he's still taking his paycheck in bitcoin despite the ongoing market volatility.
Suarez, who leads the U.S. Conference of Mayors, first said just over a year ago that he’d become the first American politician to take his official salary in bitcoin, announcing the plan just days before the all-time high of $68,789. While the digital currency has declined about 76% since Suarez first announced the measure, he’s noted that his mayoral salary is not his only source of income as he also has jobs as a lawyer and with private equity.
"Web3 and crypto is here to stay," he said to widespread applause at the MiamiWeb3 summit co-hosted by CTH Group and the City of Miami. "Sometimes we just have to breathe, right? We have to remember that this technology is new. Not every iteration is going to succeed. Not every company is going to succeed."
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