Bitcoin Updates: Miami Mayor's Bitcoin Gains Propel the City's Ambitious Crypto-Focused Plans

Miami’s Mayor, Francis Suarez, has seen substantial gains after opting to receive a portion of his salary in

, with the value of his holdings climbing by 300% since he began this approach in late 2021, according to . Even with recent market swings, including Bitcoin (BTC) dropping below $100,000 this week, Suarez remains confident, describing the cryptocurrency as a “macroeconomic hedge asset” with “built-in monetary characteristics.” His perspective highlights Miami’s ongoing efforts to establish itself as a leading center for crypto innovation.

Back in November 2021, Suarez revealed he would accept at least part of his mayoral pay in Bitcoin, as noted in a

. At that point, was valued near $64,000, but Suarez later clarified his average purchase price was closer to $30,000, reflecting the asset’s price volatility during his initial adoption period. With BTC currently trading around $108,000, his estimated holdings—now about $1.91 million—have grown significantly from the original $500,000. Earning an annual salary of $97,000 and holding a net worth of $4.45 million, Suarez has become a prominent supporter of Bitcoin as both a store of value and a catalyst for financial innovation. His gains were also featured in a .

"My main interest lies in this digital transformation—where decentralized technology, cryptocurrencies, and AI are heading," Suarez shared with Fox Business, downplaying concerns about daily price changes. His optimism stands in contrast to the broader market’s recent instability, as Bitcoin has dropped more than 18% since its October high due to profit-taking and economic pressures. Still, Suarez’s long-term outlook matches Miami’s crypto-forward policies, such as proposals to let residents pay taxes and fees in Bitcoin and the city’s hosting of major crypto events.

Suarez isn’t the only politician to embrace crypto. Former New York City Mayor Eric Adams also received part of his pay in Bitcoin before leaving office in 2021. However, there is no verified information confirming Suarez continues to take his entire salary in Bitcoin, with the last official update in November 2022. Nevertheless, his public support for the asset has boosted Miami’s image as a crypto-friendly city, drawing billions in blockchain investments and encouraging policies that attract tech and financial companies.

The mayor’s experience illustrates both the opportunities and risks of receiving compensation in cryptocurrency. While his 300% return highlights the benefits of early adoption, Bitcoin’s price swings remain a significant risk. Suarez, however, keeps his focus on the broader implications: “Bitcoin is a system for creating money that is transparent through code,” he stated, stressing its importance in the movement toward decentralized finance.

As discussions about crypto regulation and mainstream use persist, Suarez’s personal and political commitment to Bitcoin serves as an example of how digital assets are influencing both individual wealth management and city-level economic strategies.

In other news, Miami International Holdings shared its third-quarter 2025 results in a

.

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