- Pro Bitcoin Miami Mayor Francis Suarez has announced on Twitter that he will be taking his next paycheck 100 percent in Bitcoin.
- US Senator Cynthia Lummis argues that Bitcoin will continue rising but a whole lot of others are seemingly like securities and will not last.
U.S Politicians are increasingly coming out in support of Bitcoin (BTC). One of the most prominent Bitcoin advocates is Miami Mayor Francis Suarez. The politician has in a recent tweet stated that he plans to take his next paycheck in Bitcoin. This will make the Mayor the first U.S politician to be paid in Bitcoin.
It all began with Bitcoin maximalist and price analyst Anthony Pompliano posing the question of who would be the first American politician to accept their salary in Bitcoin. To this, Suarez replied;
I’m going to take my next paycheck 100% in bitcoin…problem solved! @Sarasti can you help?
Since making the announcement, there has been great support from the community who have viewed the move as a step in the right direction. One of those in support is Coinbase CEO Brian Armstrong.
— Brian Armstrong (@brian_armstrong) November 3, 2021
Curiously, the Mayor’s decision comes within hours of US Senator Cynthia Lummis arguing that Bitcoin is here to stay.
Senator Cynthia Lummis: BTC is here to stay, but a lot of others are not
Although the senator is confident about Bitcoin’s future, she believes that the fate of other cryptocurrencies hangs in the balance. in an exclusive interview with Squawk Box the Senator explained;
I do think that Bitcoin is here to stay, and I do think that a lot of others are not. The fact that Bitcoin is fully decentralized, and that some of these others were issued by a person or an entity that kept a large block of the coin for themselves and then issued others to participate, means they look more like a security than a commodity. Bitcoin is clearly a commodity…Bitcoin is the standard. It is digital gold.
The Senator further revealed that the government is working on crypto-friendly regulations that will promote adoption with priority still set on consumer protection. While regulation is likely to blanket the entire crypto market, the Senator suggests that all digital assets are created differently and only BTC is fully decentralized and safe.
— Eric Weiss ⚡️ (@Eric_BIGfund) November 2, 2021
Earlier in the year, Bitcoin maximalist Max Keiser made a bold prediction on U.S politicians adopting Bitcoin as a standard. According to the analyst, half the politicians will see the benefits of Bitcoin and work to make Bitcoin the standard in America.
With Senators, Mayors and presidential candidates like 2020 presidential candidate Andrew Yang and Mike Bloomberg coming out in support of Bitcoin, Keiser’s prediction could be realized.