Bitcoin-friendly,Francis Suarez, mayor of Miami, said on Friday that his presidential campaign will now accept bitcoin (BTC) contributions.
“Officially, my campaign is accepting bitcoin,” Suarez declared. In his words, “This is a process of developing technologies that are going to create democratising opportunities for wealth creation and are not manipulated by a human being’s ulterior motives, political goals, etc.”
Supporters can donate as little as 0.00034 bitcoin, or the equivalent of $1, at FrancisSuarez.com, he said.
Suarez criticised the way the Biden administration handled cryptocurrency.
The main error this administration has made, according to Suarez, is that they don’t comprehend cryptocurrency and instead of establishing the rules, they have chosen to regulate by enforcement. “You have to be able to classify certain digital products, and you have to be able to have certain guidelines and rules that are clear with respect to the custody of assets.”
Suarez also declared that he would outlaw digital money issued by a central bank.“Nobody wants the government to know where they keep their money and how much they have,” There isn’t anything particularly new about that, in my opinion,” he remarked.Republican Suarez declared his candidature for president in June, joining a crowded GOP primary field that includes front-runners Ron DeSantis of Florida and former President Donald Trump.Given that the mayor of Miami has long been a champion for digital assets, particularly bitcoin, which he has claimed will have a “democratising impact on the future of wealth for every American,” the decision to enable bitcoin payments for donations shouldn’t come as a surprise. He accepted payment in bitcoin and has promised to turn Miami into a centre for bitcoin.
Suarez has already conducted numerous trials with digital assets, such as the introduction of MiamiCoin (MIA) in 2021, which he intended to utilise in the future to pay Miami residents a reoccurring bitcoin stimulus, comparable to a dividend paid to shareholders of a firm.
However, the cryptocurrency has underperformed, with a 95% value decline since debut. Suarez, though, is still quite active in the sector and has stated that the nation needs a president who is familiar with cryptography and artificial intelligence.