The Candidate Who Said He'd Get Paid In Bitcoin If Elected President Bows Out: Francis Suarez Calls It Quits

Pro-Bitcoin BTC/USD Presidential Candidate Mayor Francis Suarez of Miami said on X he will be dropping out of the presidential race. 

What Happened: In a post on X (formerly Twitter), Suarez said, "While I have decided to suspend my campaign for President, my commitment to making this a better nation for every American remains. "

Suarez emerged as a prominent advocate for Bitcoin, he even accepted bitcoin donations for his Presidential Campaign.

This made him one of the few early adopters openly endorsing the original cryptocurrency. His opposition to central bank digital currencies (CBDCs) was equally pronounced, publicly expressing his disapproval of their development. A notable highlight from 2021 was his announcement that he would receive his entire salary in Bitcoin, a decision that garnered substantial attention.

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Why It Matters: Earlier last week, during a podcast interview with The Block, Suarez emphasized, “Supporting cryptocurrency, supporting Bitcoin is something that I would do as President. I think they’re very good for a country like the US because they create a good hedge and a good sort of check and balance on a monetary system that’s gotten completely out of control and become hyperpolitical.”

As the current Mayor of Miami, Suarez received his salary in bitcoin, a practice he intended to continue if he had been elected President. However, it is important to note that Suarez is no longer a candidate in the presidential race.

Price Action: At the time of writing, BTC was trading at $27,402.01, up 5% in the last 24 hours, according to Benzinga Pro.

Photo Courtesy: Felix Mizioznikov on Shutterstock.com

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