© Courtesy of BenzingaMiami's "bitcoin mayor" Francis X. Suarez announced his candidacy for the US presidency on Wednesday, running as the Republican candidate for the Federal Election Commission and hoping to challenge former President Donald Trump and others.
What happened : As the current two-term mayor of Miami, Suarez is a Bitcoin (CRYPTO: BTC ) supporter and has worked to establish Miami as a global cryptocurrency hub.
He has personally invested in cryptocurrencies and even lobbied for a government salary and 401k to accept bitcoins.
Suarez is among a growing list of Republican presidential candidates seeking support from the bitcoin community.
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Bitcoin Hot List: Florida governor and Republican runner-up Ron DeSantis joined Elon Musk on Twitter Spaces in May, where he announced his run for president.
DeSantis said in a virtual interview that Bitcoin will die if Joe Biden is re-elected. "The current regime is clearly guaranteeing bitcoin. And if this goes on for another four years, they're probably going to kill it," he warned.
DeSantis signed Florida's central bank ban on digital currencies (CBDC), citing the potential risks of governments controlling digital currencies .
Entrepreneur Vivek Ramaswamy is another Republican candidate fighting for the bitcoin vote. At the Bitcoin 2023 conference, Ramaswamy emphasized his belief that Bitcoin should not be regulated as a security. In his speech, he encouraged others to turn the 2024 election into a "decretal currency referendum."
In the scenario, entrepreneurs display a QR code that, when scanned, directs users to payment gateways that offer various payment options, including Bitcoin.
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Why it matters: Republicans aren't the only ones putting bitcoin on their platforms.
Democratic presidential candidate Robert F. Kennedy Jr. showed his support for the leading cryptocurrency at the Bitcoin Conference. Kennedy promised to protect bitcoins from "invasive surveillance" and protect the right to own and use bitcoins.
Price Action: At the time of writing, BTC is trading at $25,045.50, down 3.14% in the last 24 hours, according to Benzinga Pro.
Read next: Bitcoin, Ethereum, Dogecoin Drop After Jerome Powell's Comments on Future Rate Hikes: Analysts See Crypto King in Bull Market as These Levels Hold
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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This article Trump Vs Miami 'Bitcoin Mayor' In 2024 Republican Presidential Race appeared on Benzinga.com.