The long-standing mayor of Miami, Francis Suarez, has now appear plans to take a part of his 401(k) payout in Bitcoin (BTC) just a calendar month afterward he started receiving bacon in BTC.

Soon later on becoming the first United states lawmaker to accept a role of his salary in Bitcoin, Suarez wants to dedicate some of his retirement savings to Bitcoin based on "a personal choice," he said in an interview with Real Vision, adding:

"I just call up information technology is a good nugget to be invested in. I recall it's one that'southward apparently going to appreciate over time. It'due south one that I believe in."

Suarez highlighted that Bitcoin'south success is tightly tied to the confidence in the system, which is inherently an "open-source, united nations-manipulatable system." The mayor revealed that he has started receiving bacon payments in Bitcoin through the assist of third-party payment processor Strike.

The mayor besides shared that the city government accepts fee payments in Bitcoin from Miami residents. While the mayor explores the various options for enabling the Bitcoin payments for retirement savings, Suarez is certain to have established a relevant organisation past 2022.

Related: Miami will manus out complimentary Bitcoin to residents from profits on city money

In an effort to further drive Miami's Bitcoin adoption drive, Mayor Suarez announced on November. 12 that he would requite Bitcoin yield as a dividend direct to every eligible Miami resident.

Every bit Cointelegraph reported, the city of Miami will dissever and distribute the BTC yields to residents earned by staking its in-business firm cryptocurrency, MiamiCoin, which was initially launched by CityCoins to fund municipal projects by generating yield. In a bid to transform the metropolis into a major cryptocurrency hub, Suarez said:

"Nosotros're going to create digital wallets for our residents. And we're going to requite them Bitcoin directly from the yield of MiamiCoin."