Bitcoin supporter drops out of presidential race

USA
USA

Mayor of Miami (Florida, USA) and supporter of cryptocurrencies Francis Suarez has completed the campaign for the presidential election. The reasons for the decision are not specified.

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“Running for President of the United States was one of the greatest honors of my life. This country has given me and my family so much. The prospect of debt repayment at the highest level of public service is a motivator or even a vocation,” he wrote.

Suarez noted that the next president has an important role to play in returning American cities to a path of security, prosperity and a better quality of life for all.

“The current administration [президента] brings our country down. Inflation remains high, a higher key rate punishes young Americans, the southern border is wide open, crime is on the rise, and our enemies are getting bolder and stronger. We deserve better,” said the mayor of Miami.

In November 2021, Suarez announced plans to become the first politician in the US to convert his salary into bitcoin. In December 2022, he revealed that he was still receiving payouts in the first cryptocurrency despite the bear market.

In June 2023, Suarez announced his candidacy for the Republican Party for the US presidential election scheduled for November 5, 2024. In August, the politician said that his campaign accepts donations in the first cryptocurrency.

The most prominent Bitcoin proponent in the current presidential race is Robert Francis Kennedy Jr. Earlier, he called the asset an alternative to the traditional financial system and criticized US regulators for the “war on cryptocurrencies” that led to a banking crisis in the country.

If he wins the election, the politician promised to make decisions that “support bitcoin and freedom of transactions, allowing people to manage their wallets, nodes and passwords.”

Recall that in June, Coinbase CEO Brian Armstrong called the upcoming US elections a key moment for regulating digital assets.

According to the Grayscale report, the promotion of cryptocurrencies by US presidential candidates is driven by the forecast that Generation Z and millennials will make up a significant proportion of voters – about 44%. Young people have less trust in traditional institutions and more commitment to new technologies.

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