Trump Faces Competition From 'Bitcoin Mayor' Of Miami In 2024 GOP Presidential Race

Miami’s “Bitcoin Mayor,” Francis X. Suarez, on Wednesday, announced his candidacy for the U.S. presidency by filing as a Republican candidate with the Federal Elections Commission and hopes to challenge former President Donald Trump and others.

What Happened: As the current two-term Mayor of Miami, Suarez is a vocal advocate of Bitcoin BTC/USD and has been working to establish Miami as a global crypto hub. 

He has invested personally in crypto and even pushed to receive his government paycheck and 401k benefit plan in Bitcoin.

Suarez joins a growing list of Republican presidential hopefuls who are seeking the support of the Bitcoin community. 

The Bitcoin Popular List: Florida Governor and fellow Republican candidate Ron DeSantis joined Elon Musk on Twitter Spaces in May, where he announced that he is running for president.

DeSantis in a virtual conversation said that Bitcoin will die if Joe Biden is reelected.  “The current regime, clearly, they have it out for Bitcoin. And if it continues for another four years, they’ll probably end up killing it,” he warned. 

DeSantis has signed a bill banning Central Bank Digital Currency (CBDC) in Florida, citing the potential risks of a government controlling a digital currency.

Entrepreneur Vivek Ramaswamy is another Republican candidate vying for the Bitcoin vote. At the 2023 Bitcoin Conference, Ramaswamy emphasized his belief that Bitcoin should not be regulated as a security. During his speech, he encouraged others to make the 2024 election “a referendum on fiat currency.”

The entrepreneur showcased a QR code while on stage, which when scanned, would redirect users to a payment gateway that offers a variety of payment options, including Bitcoin. 

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Why It Matters: However, Republicans are not the only ones who have put Bitcoin on their platform.

Robert F. Kennedy Jr., a candidate for the Democratic Party presidential nomination, also showed his support for the apex crypto at the Bitcoin Conference. Kennedy vowed to defend Bitcoin against “invasive surveillance” and protect the right to hold and use Bitcoin.

Price Action: At the time of writing, BTC was 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: Analyst Sees King Crypto In Bull Market As Long As It Holds This Level

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