He decided to pay his salary in Bitcoin. It's the bargain of the century!

He decided to pay his salary in Bitcoin. It's the bargain of the century! ...

News JVTech He chose to receive his salary in Bitcoin. The deal of the century!

Published on 01/24/2023 at 15:40

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This guy decided to pay part of his salary in Bitcoin (BTC) during the crypto winter. Despite all odds, the outcome of this decision after about two years of experimentation may surprise many.

Bitcoin salary

Despite the bearishness surrounding cryptocurrencies in recent months, bitcoin enthusiasts continue to believe in the first crypto at all costs and use it in their everyday lives. This is the case of Miami mayor Francis Suarez, who still receives a significant portion of his salary in bitcoins in 2021.

Originally, this move occurred when Bitcoin was experiencing a substantial increase in its price. Almost two years later, the value of Bitcoin has vastly decreased.

Bitcoin's price dropped from €56,000 (at its highest level on November 12, 2021) to €21,000 today, putting one in doubt whether the experience was worthwhile.

Despite the price of bitcoin, this is an unexpected outcome.

The mayor of Miami himself proudly acknowledged this unprecedented experiment during an interview for the CNBC channel. First, he explained that he continued to receive a portion of his salary in Bitcoin. Additionally, he indicated that it remained constant regardless of the decrease in Bitcoin prices.

It was not a foregone conclusion, especially since several individuals had warned the politician about Bitcoin's volatility. Nevertheless, it appears that the mayor has miraculously been spared from bitcoin's bearish movements in the year 2022:

The mayor's enthusiasm for bitcoin is a reflection of his city. In fact, the Miami agglomeration has become in a way "web 3 friendly," fueled by several measures in this direction in recent years. Among these: the purchase of Bitcoin for the city or the payment of local taxes in Bitcoin.

Moreover, it encourages crypto firms to come and settle in the city to make Miami the United States' Cryptocurrency Hub.

He enthuses other American politicians. For example, New York Mayor Eric Adams chose to pay his first three salaries in bitcoins.

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