Re-elected mayor of Miami will partially use Bitcoin to pay for 401k retirement savings

Re-elected mayor of Miami will partially use Bitcoin to pay for 401k retirement savings


Francis Suarez, the long-time mayor of Miami, has now announced plans to use Bitcoin (Bitcoin) only one One month after he started to receive his salary in BTC.

Soon after becoming the first American lawmaker to accept part of his salary in Bitcoin, Suarez hoped to use part of his retirement savings in Bitcoin based on “personal choice,” he said in a statement. interview Real vision:

“I just think this is a good asset worth investing in. I think it will obviously appreciate over time. This is what I believe.”

Suarez emphasized that the success of Bitcoin is closely linked to the confidence in the system, which is essentially an “open source and unmanageable system.” The mayor revealed that with the help of a third-party payment processor, Strike, he has started to pay wages in Bitcoin.

The mayor also shared that the city government accepts Miami residents to pay fees in Bitcoin. Although the mayor has explored various options for enabling Bitcoin to pay for retirement savings, Suarez will certainly establish a related system before 2022.

related: Miami will give out free bitcoins to residents from the profits of the city’s coins

In order to further promote the popularity of Bitcoin in Miami, Mayor Suarez announced on November 12 that Bitcoin proceeds will be provided as dividends directly to every eligible Miami resident.

As reported by Cointelegraph, the City of Miami will distribute and distribute BTC proceeds to residents by collateralizing its internal cryptocurrency MiamiCoin, which was initially launched by Citycoins Funding municipal projects by generating revenueIn order to transform the city into a major cryptocurrency center, Suarez said:

“We will create digital wallets for our residents. We will give them Bitcoin directly from the proceeds of MiamiCoin.”