Miami Mayor Plans CoinQuora to Receive 401k Retirement Savings in Bitcoin

• The mayor of Miami has announced plans to take his retirement savings a year.
• He said he wants to do this based on his personal choice.
• This is just a few days after he was named the first US lawmaker to receive a Bitcoin salary.

Miami Mayor Francis Suarez has announced his intention to receive a portion of his 401 retirement savings in Bitcoin (BTC). He made this announcement a few days after he became the first U.S. lawmaker to support part of his salary at BTC, driven by a third-party payment processor, Strike.

Suarez said he has no plans to do this out of popularity or to advertise Bitcoin in any way. Instead, he plans to take part of his retirement savings in BTC based on his “personal choice” without any influence.

I think it’s a good asset to invest. I think he will appreciate it over time. That’s what I believe.

Even today, the Miami government is accepting a free BTC payment from its residents, according to him. This is one of the most explosive things the city is doing in the name of embracing digital innovation in the country, especially Bitcoin.

He also reiterated that all of Bitcoin’s victories and successes are tied to its confidence in its blockchain system. It is mainly open source and unmanipulated. With likes like Bitcoin, Mayor Suarez is confident that he will implement a major system next year.

Interestingly, the mayor has pledged to benefit Bitcoin as a dividend to all eligible Miami residents.

He said

We will create digital wallets for our residents. And we will give them Bitcoin directly from MiamiCoin’s profit.

The main reason behind Suarez’s bitcoin gift is to encourage high adoption to transform BTC’s presence in the region.

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