Francis Suarez, the cryptocurrency-affiliated Mayor of Miami, unexpectedly suspended his presidential campaign. What’s behind this decision and what does it mean for the crypto world?
Francis Suarez, who gained prominence as the Bitcoin (BTC)-friendly Mayor of Miami, decided to suspend his presidential campaign on August 29. He announced this on his official account, expressing his unwavering commitment to building a better country for every American.
Although he did not provide specific reasons for his decision, media reports suggest that it might have been due to difficulties in securing a spot in the initial GOP primary debate.
His favorable stance on cryptocurrencies made Suarez’s campaign a topic of interest among the cryptocurrency community. He was one of the three Republican candidates recognized as advocates for the burgeoning cryptocurrency industry.
Suarez stood out among other politicians as one of the first in the US to choose to be paid in Bitcoin. Additionally, he played a pivotal role in the development of MiamiCoin (MIA) – a cryptocurrency created specifically for Miami, aimed at funding local projects through generating additional revenues.
In June of this year, Suarez revealed that his campaign began receiving donations in the form of the leading cryptocurrency from his supporters. Moreover, according to recent data, his official site still accepts donations in various cryptocurrencies.
One cannot also overlook his stance on central bank digital currencies (CBDCs). Suarez expressed his dissatisfaction with such currencies, arguing they infringe on the privacy rights of American citizens.
Cryptocurrencies are gaining increasing popularity worldwide, and their influence is also evident in politics. Although Suarez’s campaign has been suspended, his engagement in the crypto world remains unchanged, underscoring the growing importance of this industry in a global context.
