Miami Mayor Francis Suarez to Accept Bitcoin Donations for Presidential Campaign

Francis Suarez, Miami’s current Mayor and a firm advocate for digital assets has officially announced that his presidential campaign will accept Bitcoin donations. This development reinforces Suarez’s long-standing commitment to digital assets and showcases the advantages of Bitcoin in political fundraising, particularly as a means of democratizing opportunities for wealth generation. In Suarez’s view, Bitcoin’s decentralized nature makes it immune to human ulterior motives and political agendas, offering a level playing field for all donors.

Transforming Miami into the Nation’s “Crypto Capital”

Since his rapid ascent to the mayor’s office in 2017, Suarez has made concerted efforts to transform Miami into the nation’s “crypto capital.” This dedication was demonstrated with the unveiling of the “Miami Bull” statue in 2022, a modern interpretation of Wall Street’s famous bull. This statue marked the inauguration of the Bitcoin 2022 conference. Suarez’s integration of Bitcoin into his campaign is not merely a fundraising tool; he consistently voices his support for the digital currency on X, formerly known as Twitter.

Embracing the Future of Cryptocurrency

On the social platform, Suarez fervently expressed, “Cryptocurrency is the future and it’s here to stay—America’s next president must lean into this generational opportunity, not shy away.” He made efforts to attract donors by promising a “Vote Bitcoin” t-shirt for a donation as small as $1 in BTC. Suarez’s innovative approach to fundraising is not new. His campaign has previously offered $20 gift cards for donations and even gave supporters a chance to win tickets to a soccer match featuring Lionel Messi.

Expanding Crypto Donation Options

But Suarez’s campaign is not limited to accepting Bitcoin alone. According to his campaign website, a portal accepts crypto donations in various digital currencies. Payments are directed to Suarez for President Inc. and can be made in multiple cryptocurrencies, including BTC, BCH, LTC, DOGE, XRP, ETH, SHIB, USDC, DAI, MATIC, APE, BUSD, WBTC, USDP, GUSD, and EUROC. Interestingly, Tether (USDT) is shown on the Bitpay invoice but is currently not supported.

Suarez follows in the footsteps of Robert F. Kennedy Jr., a Democrat, and Vivek Ramaswamy, a Republican, who both announced their acceptance of BTC for campaign donations during the Bitcoin 2023 convention in Miami. The trend of accepting crypto for campaign financing first began in the 2016 presidential race. Suarez, who made a name for himself in the crypto space years ago, also invested a portion of his 401(k) retirement plan in Bitcoin.

Calling for Clear Crypto Guidelines

During his CoinDesk TV appearance, Suarez criticized the Biden administration’s handling of crypto, arguing that it lacked understanding and clear regulations for crypto assets. He also voiced his disapproval of a central bank digital currency, stating, “Nobody wants the federal government knowing where you have your money and how much money you have… I don’t think that there’s anything particularly innovative about that.”

Remaining Challenges

However, the path to the White House isn’t solely paved with Bitcoin. Suarez still needs to meet the Republican National Committee’s criteria, which include gaining the support of 40,000 donors across 20 states and scoring a minimum of 1% in select polls. He is entering a crowded race for the GOP nomination, competing with front-runners like former President Donald Trump and Florida Governor Ron DeSantis.

Experimenting with Crypto Assets

In addition to his progressive campaign funding tactics, Suarez has previously launched MiamiCoin (MIA) in 2021, envisioning it as a means of paying a recurring Bitcoin stimulus to Miami citizens, similar to dividends paid to shareholders of a company. These ventures further solidify Suarez’s vision for a Bitcoin future and his commitment to using cryptocurrency as a democratizing tool in political fundraising.