Bitcoin Advocate US Presidential Candidate Drops Out Of Race – Here’s Why

Bitcoin proponent and Miami Mayor Francis Suarez declared his White House candidacy with conditions, vowing to exit if he failed to meet GOP thresholds. Although he asserted qualification, he was absent from the Milwaukee debate. The question remains: Will Suarez persist with his low-support campaign?

On Tuesday, the public got an answer: The commander-in-chief wannabe announced on X (formerly Twitter) that he was ending his campaign for the White House.

He expressed gratitude for the experience and stated his ongoing dedication to improving the country for all citizens. Suarez’s decision makes him the first Republican contender to back out of the 2024 presidential race.

“While I have decided to suspend my campaign for president, my commitment to making this a better nation for every American remains,” Suarez wrote on X.

Bitcoin Backer Lacks Significant Voter Support?

Suarez, who was the sole Hispanic candidate vying for the party nomination, expressed immense honor in running for the US Presidency, seeing it as an opportunity to give back to the country that has benefited his family.

He views it as a chance to serve the nation at the highest level of public service and has been inspired by the patriotic Americans he’s encountered throughout his campaign. Although he didn’t make it to the first debate, he cherished the privilege of being near that stage with fellow candidates.

Suarez managed to fulfill the donor requirements set by the RNC, as stated by his campaign. This accomplishment was achieved by implementing various eye-catching strategies to attract backing.

His initiative distributed $20 gift cards to donors, welcomed donations in the form of cryptocurrency, and organized lotteries for opportunities to witness soccer legend Lionel Messi in play.

According to reports, Suarez lacks significant voter support because of the relatively small number of votes he received.

Will Suarez Continue Championing Bitcoin?

Miami’s mayoral position holds limited power, and the city’s population of 460,000 in 2020 is much smaller than major cities like New York, Chicago, and Los Angeles.

Some analysts say there’s no clear indication that the Miami mayor can attract broad public backing. In the 2017 mayoral election, Suarez, whose father was a former Miami mayor, won with 86% of the vote, but this was based on only 25,471 total votes. The nearly 22,000 votes he received constituted just 11% of Miami’s registered voters.

Suarez became a notable supporter of Bitcoin and openly promoted the crypto, even using it for donations during his Presidential campaign. He stood out as an early adopter and vocal advocate for the original cryptocurrency.

Additionally, he was strongly against central bank digital currencies and expressed his disapproval of their development. In 2021, he gained attention by declaring that he would take his entire salary in Bitcoin, a move that generated significant interest.

At this juncture, it remains uncertain whether he will continue supporting Bitcoin, let alone entertain the idea of receiving his salary in cryptocurrency.

The 60th quadrennial US presidential election is slated to take place on Tuesday, November 5, 2024.

Featured image from Charlie Neibergall/AP

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