Bitcoin News Today: Miami Mayor's Bitcoin Windfall Fuels City's Crypto-Centric Vision

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Miami Mayor Francis Suarez's decision to accept part of his salary in Bitcoin has paid off handsomely, with his holdings surging 300% since he first made the switch in late 2021, as reported by Coinpaper. Despite recent volatility, including Bitcoin (BTC) slipping below $100,000 this week, Suarez remains unfazed, touting the cryptocurrency as a "macroeconomic hedge asset" with "hardcoded monetary properties". His stance underscores a broader push to position Miami as a global hub for crypto innovation.

Suarez first announced in November 2021 that he would take at least a portion of his mayoral compensation in Bitcoin, according to a CryptoTimes report. At the time, BTC traded around $64,000, but Suarez later clarified that his average purchase price was closer to $30,000, reflecting the asset's price swings during the early stages of his adoption. With BTC now trading near $108,000, his holdings-estimated at roughly $1.91 million-have grown significantly from their initial $500,000 value. The mayor, who earns an annual salary of $97,000 and has a net worth of $4.45 million, has become a vocal advocate for Bitcoin's role as a store of value and a driver of financial innovation. A Trade Brains profile also highlighted his gains.

"I'm more interested in this digital revolution-where decentralized systems, cryptocurrency, and AI are heading," Suarez told Fox Business, dismissing concerns over daily price fluctuations. His confidence contrasts with broader market turbulence, as Bitcoin has fallen over 18% from its October peak amid profit-taking and macroeconomic headwinds. Yet Suarez's long-term vision aligns with Miami's crypto-friendly policies, including initiatives to allow residents to pay taxes and fees in Bitcoin and host major crypto conferences.

Suarez is not alone in his crypto bets. Former New York City Mayor Eric Adams also took part of his salary in Bitcoin before losing his seat in 2021. However, there is no confirmed evidence that Suarez continues to receive his full salary in Bitcoin, with the most recent official updates dating to November 2022. Regardless, his public embrace of the asset has amplified Miami's reputation as a pro-crypto city, attracting billions in blockchain investments and fostering policies that incentivize tech and finance firms.

The mayor's success highlights both the potential and risks of crypto-linked compensation. While his 300% gain demonstrates the rewards of early adoption, Bitcoin's volatility remains a double-edged sword. Suarez, however, remains focused on the bigger picture: "Bitcoin is a money creation system known through the code," he said, emphasizing its role in a shift toward decentralized finance.

As debates over crypto regulation and adoption continue, Suarez's personal and political gamble with Bitcoin offers a case study in how digital assets are reshaping both individual wealth strategies and municipal economic policies.

Separately, Miami International Holdings reported third-quarter 2025 results in a Morningstar press release.

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