BREAKING: Miami Mayor to take Full Salary in Bitcoin
“I don’t believe we shall ever have a good money again before we take the thing out of the hands of government. That is, we can’t take them violently out of the hands of government. All we can do is by some sly roundabout way introduce something that they can’t stop.” – Hayek
Now the tables have turned, and the politicians don’t want to stop Bitcoin, they want to own it. This morning, Mayor of Miami Francis Suarez took a major step and committed to receiving his full salary in Bitcoin. This would be the first time a politician in the United States has taken such a step. It appears that Suarez was responding to a challenge by Pomp for a politician to accept their salary in Bitcoin.
The Mayor of Miami @FrancisSuarez has committed to taking 100% of his next paycheck in bitcoin. pic.twitter.com/Ah3vxezlJk
— Pomp ?? (@APompliano) November 2, 2021
Suarez tagged Mike Sarasti, the Chief Information Officer of the City of Miami to assist in the process. Such a move cannot be understated, as Miami is of course one of the largest and most economically prosperous cities in the United States. It would relay a certain confidence to the public about bitcoin, and help solidify the narrative of bitcoin as the hardest money to ever exist.
There have been a growing number of major figures who have also decided they’d rather be paid in Bitcoin than dollars. Just yesterday, Green Bay Packers quarterback Aaron Rodgers teamed up with Cash App to accept his salary in Bitcoin, Rodgers even put his laser eyes on full display as his Twitter header.
This type of adoption will surely drive demand for Bitcoin exponentially higher. It is important to remember, Bitcoin is not competing with the Ethereum’s of the world, but Gold, Silver, and other stores-of-value. People want hard, uncensorable, un-manipulatable money. That is Bitcoin. Imagine when everyone wants to be paid in Bitcoin. Jack Mallers and his Strike application, and Dorsey’s Cash App are trying to make that a reality.
I just published Announcing Pay Me In Bitcoin
If you save in USD, the quality of your life degrades with time.
If you save in #bitcoin, a high quality of life gets cheaper and increasingly attainable.
Today, everyone can get paid and save in #Bitcoin https://t.co/1ICtYKL8ze
— Jack Mallers (@jackmallers) October 14, 2021
Bitcoin is not a utility, governance, or gas token like 99% of the crypto assets we see traded today. As Michael Saylor says, it is “Bitcoin is a bank in cyberspace, run by incorruptible software, offering a global, affordable, simple and secure savings account to billions of people that don’t have the option or desire to run their own hedge fund.”
Bitcoin is designed more to be “a treasury reserve asset for a family, corporation, government, institution, or trust.” So when people ask where the demand will come from for Bitcoin, just look at the market cap of gold, which acts as a reserve asset today, and you’ll just how much more room there is to grow.
More and more highly politicians, from both sides of the aisle, interestingly, are getting on board with this. Texas Senator Ted Cruz announced today that he is proposing a Senate resolution that will require merchants in Washington DC to accept Bitcoin as payment.
JUST IN – Ted Cruz proposes Senate resolution to require DC merchants, vending machines and gift shops to accept #Bitcoin pic.twitter.com/BloHu2kK8S
— Bitcoin Magazine (@BitcoinMagazine) November 2, 2021
The more ubiquitous Bitcoin becomes, the more demand will increase. Bitcoin has only one competitor, and that is the Fiat standard, and that is why one Bitcoin is already worth over $60,00 dollars. Holding dollars in savings is starting to make zero sense for most. Prepare to see more and more politicians announce Bitcoin as a savings vehicle for themselves and their constituents.
The post BREAKING: Miami Mayor to take Full Salary in Bitcoin appeared first on CryptosRus.
Text source: CryptosRus
