Miami Mayor Francis Suarez said his Bitcoin-denominated salary has gained roughly 300% in value since he began receiving it in late 2021. Suarez converted his paychecks into Bitcoin as part of a broader effort to promote Miami as a leading crypto-friendly city.
The mayor said he remains confident in his long-term investment strategy despite market volatility. His initial Bitcoin salary conversions were made when prices were near $30,000, significantly below current levels, contributing to the strong return.
Suarez’s experience highlights both the potential upside and the risks of using digital assets for payroll, as fluctuations in cryptocurrency prices can dramatically impact income over time.