Francis X. Suarez, the two-term mayor of Miami and a prominent supporter of Bitcoin and blockchain technology, has officially filed the necessary paperwork to run for the U.S. presidency in 2024. According to documents released by the U.S. Federal Election Commission on June 14, Suarez will be running as a Republican candidate.
Often referred to as the “Bitcoin Mayor,” Suarez’s entry into the presidential race highlights the growing significance of cryptocurrency in American politics. As a Cuban American and former president of the bipartisan U.S. Conference of Mayors, Suarez stands out as the sole Latino GOP candidate, leveraging his reputation as a forward-thinking leader in the technology sector as he charts his path to the White House.
In recent years, Suarez has actively promoted Miami as a global hub for cryptocurrency and blockchain technology. He has personally invested in Bitcoin, delivered a welcome speech at the nft now’s The Gateway 2022 event in downtown Miami, and has even accepted his mayoral salary in digital assets.
Suarez’s interest in crypto extends to policy initiatives, including exploring the possibility of accepting taxes and paying municipal employees with digital currencies. In late 2021, he introduced “MiamiCoin,” a program enabling Miami residents to purchase crypto and receive a Bitcoin dividend through a digital wallet.
It’s worth noting that Suarez’s support for cryptocurrency aligns him with other presidential contenders such as Robert F. Kennedy Jr., Florida Governor Ron DeSantis, and entrepreneur Vivek Ramaswamy, all seeking to appeal to the Bitcoin vote. Suarez will be competing for the Republican nomination against prominent candidates like DeSantis and former President Donald Trump.
In a video accompanying his announcement to run, Suarez expressed, “My dad taught me that you get to choose your battles, and I am choosing the biggest one of my life. I’m going to run for president. I’m going to run for your children and mine.”
Despite entering the race relatively late, Suarez’s campaign has already generated significant attention. He is scheduled to speak at the Ronald Reagan Presidential Library in Simi Valley, California, on June 15, where he will provide further details about his presidential plans.
While Suarez’s pro-tech and pro-crypto stance sets him apart in the crowded Republican field, he still faces the challenge of building national recognition and meeting the stringent polling and donor criteria to qualify for the first Republican primary debate in August.
As the first major Hispanic candidate to join the Republican race, Suarez’s campaign may resonate with Florida’s increasing Hispanic voter base. He has previously emphasized that the GOP’s success in Miami “can be replicated nationally if Republicans, and all elected officials, learn the lessons we learned about building an inclusive conservative majority in Miami.”
The extent to which his technology-forward policies and innovative governance approaches will appeal to national voters remains to be seen. However, his campaign announcement underscores the recent regulatory actions by the U.S. Securities and Exchange Commission and highlights how cryptocurrency has evolved from a niche interest to a legitimate political platform.