Francis Suarez, the mayor of Miami, has said that despite the fact that Bitcoin has fallen by about 40% over the past 2 months, he continues to receive his salary in the crypto, Bloomberg has reported.
He has said at the World Economic Forum in Davos:
“I will note, for the record, that it’s not my only salary. It’s a different decision than if a person was deciding to take their salary in Bitcoin if it was the only source of income for them.”
He has noted he is focused on the practical value of Bitcoin, which is the reason why the collapse of the TerraUSD stablecoin has not affected his plans for the development of the crypto industry in the US city.
Suarez warned last year when he announced he planned to receive his salary in Bitcoin that consumers need to be aware of the high risks and volatility associated with digital assets.