The candidate who said he would be paid in Bitcoin if the president-elect steps down: Francis Suarez quits

Pro-Bitcoin BTC/USD presidential candidate Miami Mayor Francis Suarez has said on X that he will step down from the presidential race.

What happened: In a post on X (formerly Twitter), Suarez said, "While I have decided to put my presidential campaign on hold, my commitment to making this a better nation for every remaining American."

Suarez became a prominent bitcoin advocate, he even accepted bitcoin donations for his presidential campaign.

This made him one of the few early adopters of the original cryptocurrency. His opposition to central bank digital currencies (CBDCs) was equally pronounced, publicly expressing his disapproval of their development. A highlight of 2021 was the announcement that he would receive his entire salary in Bitcoin, a move that garnered a lot of attention.

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Why it matters: Earlier last week, during a podcast interview with The Block, Suarez emphasized, "Supporting cryptocurrency, supporting Bitcoin is something that I would do as president I think they are very good for a country like the United States because they create a good hedge and a good kind of check and balance on a monetary system that has gotten completely out of control and has become hyperpolitics.”

As the current mayor of Miami, Suarez received his salary in bitcoins, a practice he intended to continue if elected president. However, it is important to note that Suarez is no longer a presidential candidate.

Price Action: At the time of writing, BTC was trading at $27,402.01, up 5% in the last 24 hours, according to Benzinga Pro.

Photo provided by: Felix Mizioznikov at Shutterstock.com

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