According to a report from CoinDesk, Bitcoin-friendly Miami Mayor Francis Suarez will be accepting contributions to his presidential campaign in Bitcoin, per his announcement on CoinDesk TV on August 4th.
"Officially, my campaign is accepting Bitcoin," Suarez said. "This is a process of developing technologies that are going to create democratizing opportunities for wealth creation and are not manipulated by a human being's ulterior motives, political goals, etc." he added.
Supporters can donate as little as 0.00034 bitcoin, or the equivalent of $1, at FrancisSuarez.com, Mayor Suarez stated.
Suarez was disapproving of the Biden administration's handling of crypto.
"The biggest mistake that this administration has made is they don't understand crypto, so they have gone to a regulated-by-enforcement mechanism as opposed to set the ground rules," Suarez said on CoinDesk TV. "You have to be able to classify certain digital products, you have to be able to have certain guidelines and rules that are clear with respect to the custody of assets."
Suarez also stated that he would ban a central bank digital currency (CBDC). "Nobody wants the federal government knowing where you have your money and how much money you have ... I don't think that there's anything particularly innovative about that," he said.
Suarez, a Republican, made known his run for president in June, entering a competitive race for the GOP nomination that includes front-runners former President Donald Trump and Florida Gov. Ron DeSantis.
Allowing bitcoin payments for donations is of no surprise given that the mayor has long been an advocate for digital assets, specifically bitcoin, which he has said will have a “democratizing impact on the future of wealth for every American.” He has vowed to make Miami a bitcoin hub and has accepted his salary in bitcoin.
Suarez has previous experience with crypto assets in several areas, including the launching of MiamiCoin (MIA) in 2021, which he envisioned to someday be used to pay a recurring bitcoin stimulus to Miami citizens, like a dividend paid to shareholders of a company.
To date, MiamiCoin’s value is down about 95% since its launch. But Suarez remains thoroughly involved in the industry and contends that the country needs a president who understands the technologies around crypto and artificial intelligence.
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