'Bitcoin-Friendly' Miami Mayor Francis Suarez Joins Presidential Race

Miami Mayor Francis Suarez has become the latest Republican nominee to enter the crowded race for the US presidency. Though he formally announced his candidature and launched the presidential campaign on Thursday, he has been planning this for some time and even raising funds for it.

A Cuban-American, Suarez will be the only Latino candidate for one of the most coveted post in the world. Pitching himself to voters as a candidate focused on solutions, not divisiveness, Suarez said in his announcement video, "In Miami, we stopped waiting for Washington to lead. America's so-called leaders confuse being loud with actually leading."

The 45-year-old son of a former Miami mayor, Suarez is an avowed supporter of cryptocurrencies, Bitcoin in particular. He has been trying to turn Miami into a crypto hub and the next Silicon Valley. He even takes his salary in Bitcoin and has chosen to invest a portion of his retirement plan in Bitcoin, despite the cryptocurrency's high volatility.

If he wins, Suarez would be the first sitting mayor ever elected president. During a TV appearance, Suarez said his candidacy would help Republicans expand their appeal to Latino voters. "My story demonstrates the greatness of this country, that this country provides opportunities to everyone who cares about the American dream," he added.

Suarez also defended his beleaguered party colleague and previous President Donald Trump, calling his indictment "unAmerican". He insisted that he is not running against Trump, but against "Joe Biden's Ameriac."

Moreover, unlike many of the Republicans running for president, Suarez believes climate change must be addressed. "It's not theoretical for us in the city of Miami, it's real. We deal with it day in and day out year after year. We've been dedicating a tremendous amount of resources for it,'' he explained.

Suarez's candidacy is, however, not without controversy. He has been connected to Miami real estate developer Rishi Kapoor, who paid him a $10,000 per month consulting fee to help with permits for a real estate venture, while Kapoor was seeking city approval for an urban project, according to a recent lawsuit and reporting by the Miami Herald.

Both the FBI and SEC are investigating Kapoor, the CEO of Location Ventures. The Miami-Dade Ethics Commission has also opened an investigation into Suarez's work for the developer, according to a CBS News report.

To enter the 2024 race, Suarez has to first face other Republicans like Trump, Florida Governor Ron DeSantis, former Vice-President Mike Pence, Senetor Tim Scott of South Carolina, former United Nations Ambassador Nikki Haley and former New Jersey Governor Chris Christie.