Francis Suarez, the mayor of Miami and a crypto enthusiast, has announced that his campaign for the 2024 Republican presidential nomination will accept donations in Bitcoin. Suarez said he believes in the power of Bitcoin to create more opportunities for wealth creation and democracy.
Since his 2017 election as mayor of Miami, Suarez has been a vocal advocate for cryptocurrency and blockchain technology.
He has spearheaded several initiatives to make Miami a crypto hub, including a proposal to pay city employees in Bitcoin, allowing residents to pay taxes and fees in Bitcoin, and invest city funds in Bitcoin.
Suarez has also hosted several events to attract crypto investors and entrepreneurs to Miami, such as the Bitcoin 2021 conference and the Blockchain.com headquarters relocation.
He has also expressed his support for innovation and regulation in the crypto space, saying that he wants to make Miami the most crypto-forward city in the world.
Suarez’s campaign website allows supporters to donate as little as 0.00034 bitcoin, which is equivalent to $1.
Suarez said he chose to accept Bitcoin donations because he thinks that bitcoin is not influenced by human motives, political agendas, or other factors that could undermine its value and integrity.
A Crypto-Critical Administration
Suarez’s decision to embrace bitcoin donations contrasts with the current Biden administration’s stance on cryptocurrency.
Suarez said he thinks the Biden administration’s biggest mistake is their lack of understanding of cryptocurrency and their enforcement-based approach to regulation.
He argued that the U.S. Securities and Exchange Commission (SEC) should provide clear and consistent guidelines and rules for different types of digital assets, especially regarding their custody and classification.
He also criticized the SEC’s lawsuits against crypto companies like Coinbase and Ripple, saying that they are hurting innovation and competition.
Suarez also opposed the idea of a central bank digital currency (CBDC), a digital version of a national currency issued by a central bank.
Suarez said that he does not trust the federal government to have access to people’s financial information and holdings and that he does a CBDC as providing any genuine benefits or innovation.
The Presidential candidate stated that if elected, he would ban CBDCs in the U.S. and promote more adoption and development of decentralized cryptocurrencies like Bitcoin.
A Crypto-Competitive Race
Suarez announced his candidacy for president in June 2021, joining other GOP contenders such as former President Donald Trump and Florida Gov. Ron DeSantis.
He said that he wants to bring a fresh perspective and vision to the Republican Party and the country, focusing on issues like education, infrastructure, immigration, and foreign policy.
Suarez is one of many presidential candidates who accepts bitcoin donations. In 2016, Libertarian candidate Gary Johnson accepted bitcoin donations through BitPay.
In 2020, Democratic candidate Andrew Yang also accepted bitcoin donations through OpenNode.
However, Suarez may be the first major-party candidate who accepts bitcoin donations directly through his own website without using a third-party service.
This could give him an edge over his rivals in attracting crypto-savvy voters and donors who value privacy, efficiency, and innovation.
Visit his website to learn more about Suarez’s campaign, donate bitcoin, or follow him on Twitter.
