Mayor of Miami: Bitcoin will be included in the 401(k) pension and will be open to all citizens

Time:2021-12-25 Source: 1144 views Trending Copy share

The Mayor of Miami, Francis Suarez, spared no effort to promote BTC. In an interview on December 10, he said that he is planning to allocate part of his pension in BTC, and he believes that the asset will continue to grow over time. The retirement life is more secure.

Mayor of Miami: Bitcoin will be included in the 401(k) pension and will be open to all citizens

In an interview with foreign media "RealVision" on December 10, Miami Mayor Francis Suarez stated that he will include Bitcoin (BTC) in his 401(K) pension savings configuration and is committed to 2022. Establish relevant mechanisms and open up citizens to work together to plan their lives for the elderly.

Believe that BTC will grow and open the research and development to all citizens

Suarez stated that he will participate in this plan, and part of his salary will be allocated in the form of BTC. He firmly believes that this will make his retirement life more prosperous: I think this is a good asset worth investing in. I believe that with Over time, it (BTC) will continue to appreciate.

401(K) is a pension plan launched by the United States in 1981. Participants can voluntarily transfer part of their salary to a dedicated retirement account. At the same time, the funds in the account can be used to borrow money to buy a house (no more than 50% of the assets in the account) ). In order to encourage participants not to withdraw early, they can also enjoy tax incentives for withdrawing after retirement.

Regarding the recent crash in the cryptocurrency market, Suarez said that he is still optimistic and confident in BTC. He and other BTC supporters are still keen to accept BTC payments: the success of the blockchain is because people have full confidence in it. People will have confidence in it because it is an open source and unmanipable system. This is the source of its support and the reason why it does so well.

Since 401(K) is only available for private sector workers to participate, Suarez’s source of funds was asked by the host, and Suarez said generously: I do have private sector income, and the mayor’s salary is not my income. All sources, it (private sector) is a part of my income, and I choose to use it to make this kind of investment (BTC).

Suarez further stated that he is actively planning to open the option of opening people's retirement pension accounts with BTC, and looks forward to the introduction of related systems before 2022.

Encryption-friendly policy issued in bursts

Suarez vowed to make Miami the best city of crypto, launched a number of friendly policies, and actively recruited cryptocurrency players such as FTX, Blockchain.com, eToro, ZTO, and even the Canadian investment company CIFinancial. Suarez also pledged to mine coins with Miami Coin (MIA) to earn BTC income for the city (a big profit of 4.3 million US dollars). At the same time, he plans to let people pay taxes in BTC, and even use BTC to pay civil servants' salaries.

In order to lead by example, Suarez announced on November 2 that he would like to receive his salary in BTC. According to this interview with RealVision, Suarez stated that he has successfully received coins with the assistance of the payment provider Strike.

Suarez’s actions have also caused an encryption whirlwind in politics, including New York Mayor Eric Adams, Tapa Mayor Jane Castor, and Jackson County Mayor Scott Conger of Tennessee. ) Have also joined the encryption pay challenge.

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