Miami Mayor Francis Suarez Says His Bitcoin Paycheck Is Up 300%
Miami Mayor Francis Suarez revealed he has gained 300% from receiving his salary in Bitcoin, previously seeing gains as high as 400% when Bitcoin hit $120,000 earlier in 2023. Despite Bitcoin's recent drop below $100,000, Suarez remains unfazed, focusing on the long-term value of cryptocurrency and decentralized finance. Suarez, an advocate for Bitcoin and an early adopter among politicians, aims to integrate Bitcoin into Miami's economy by enabling city transactions, payments, and employee salaries in cryptocurrency. Suarez also highlighted Miami's growth as a financial hub compared to cities like New York. In a similar trend, NFL star Odell Beckham Jr. and other athletes have experienced substantial increases in cryptocurrency-based earnings due to Bitcoin's price recovery.
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Francis Suarez's Bitcoin Salary Gains
Miami Mayor Francis Suarez revealed on Fox Business that his Bitcoin paychecks have yielded impressive returns, stating he is “up 300%” since opting to take his salary in Bitcoin. "I got paid at $30,000," Suarez said, acknowledging that Bitcoin had surged 400% earlier this year when it reached $120,000. Despite Bitcoin recently dropping below $100,000 this week, Suarez expressed no concern about short-term market volatility, emphasizing he’s focused on the long-term impact. "[The volatility of Bitcoin] really doesn’t bother me," Suarez told host Stuart Varney.
The Vision of Decentralized Finance and Crypto
Suarez, one of the first U.S. politicians to take his salary in Bitcoin, shared his broader perspective on decentralized finance and cryptocurrency evolution, especially alongside AI innovations. "What’s more interesting is this evolution of where decentralized finance is going, where crypto is going, where **AI is going," he noted. For Suarez, the macroeconomic implications and the global trust in Bitcoin as a store of value outweigh short-term price movements.
Miami: A Growing Financial Hub
Speaking at the American Business Forum in Miami, Suarez highlighted Miami's status as a rising financial hub, contrasting its pro-capitalist ethos with cities like New York. He predicted an uptick in real estate and business interest due to Miami's favorable environment for investment and innovation. Suarez also reiterated his past vision of establishing a Bitcoin-powered economy in the city, stating that he envisioned future payments — including city taxes — being made using the Satoshi system.
Plans to Expand Bitcoin Utility in Miami
Suarez has advocated for dramatically increasing Bitcoin's utility as a way to drive both value and adoption. He previously announced plans for city employees to be paid in Bitcoin and for Miami residents to pay fees using the cryptocurrency. While Suarez was term-limited and unable to run for mayor again, his initiatives continue to influence the shaping of Miami’s crypto economy. The next mayoral race, heading to a runoff on December 9, will feature Democrat Eileen Higgins and Republican Emilio Gonzalez.
Celebrities Embracing Bitcoin Salaries
The trend of public figures getting paid in Bitcoin is not limited to Suarez. NFL star Odell Beckham Jr. converted his 2021 salary with the Los Angeles Rams into Bitcoin when it traded at $60,000 per BTC. Critics initially mocked the move during Bitcoin’s crash of nearly 80%, but by July 2025, as Bitcoin soared above $120,000, Beckham’s original payout had nearly doubled to approximately $1.47 million, despite high taxes. Similarly, notable athletes like Russell Okung and Saquon Barkley have also opted for Bitcoin payments, showcasing the increasing adoption of cryptocurrency among athletes.
Authorship and Original Publication
This article was initially published in Bitcoin Magazine and authored by Micah Zimmerman, reaffirming its relevance to the ongoing discourse on Bitcoin adoption and its financial implications.