Miami mayor Francis Suarez says his Bitcoin salary is up 300%

Miami Mayor Francis Suarez says he’s sitting comfortably on big gains from his Bitcoin salary, claiming he’s up around 300% since he first started getting paid in crypto.

Suarez began receiving part of his salary in Bitcoin back in late 2021, when the cryptocurrency was trading near $64,000. Despite the ups and downs of the crypto market, the mayor told Fox Business on Wednesday that he’s not worried about the latest pullback.

“No, because I got paid at $30,000,” Suarez said when asked if he was concerned about Bitcoin dipping below $100,000. “So it’s up 300%. It was actually up to 400% when it hit $120,000, so I’m not concerned about daily market swings.”

He added that he’s more focused on the long-term potential of Bitcoin and decentralized finance than on short-term price movements.

“I’m more concerned with the macro impact of having a store of value that people have faith in — one that’s governed by code rather than politics,” he said.

When Suarez announced in November 2021 that he would take his next paycheck entirely in Bitcoin, it was seen as a bold and symbolic move — especially for a U.S. politician.

“I’m going to take my next paycheck 100% in Bitcoin… problem solved!” he posted at the time.

There’s a small discrepancy in his timeline, though. While Suarez says he was paid when Bitcoin was around $30,000, the cryptocurrency was trading closer to $64,000 when he first made the announcement.

Even so, the mayor has been a vocal crypto supporter for years. He reportedly owned both Bitcoin and Ether before converting his salary and has been publicly championing digital assets since December 2020.