In a recent interview, Miami Mayor Francis Suarez talked about personal investments in Bitcoin and Ethereum. At the same time, Suarez noted that he didn’t buy DOGE. According to the mayor, he decided to buy cryptocurrencies immediately after the US Senate approved a $ 1.9 trillion stimulus package in early March. This, he said, is a sign of the inevitability of inflation in the future.
After the approval of new measures to support the economy, Bitcoin continued to grow until it reached its current maximum of about $ 65,000. Subsequently, the price of the cryptocurrency rolled back to $ 30,000. Suarez says that he has not yet seized the opportunity to build up its position, but is going to do so. He is confident that Bitcoin will definitely grow because people will not want to stay in dollar currency.
The Mayor of Miami also talked about how big the crypto zone is. “The variety of clients, the many owners of Bitcoin as well as various other cryptocurrencies, you are talking about dozens of numerous people, and I’m also not sure if the rest of the globe really realizes how big, how amazing, and how active the cryptosphere is”.
The mayor also agreed that his earlier reports of plans to Bitcoinize Miami could have pushed the cryptocurrency market up. In this, he sees a sign of the immaturity of Bitcoin as an asset, the trading of which has not yet stabilized.
Miami’s transformation into a crypto city
The Mayor Suarez is deliberately taking steps to keep Miami one step ahead of other US cities by integrating Bitcoin and other disruptive technologies into the city’s operations. The Mayor noted, “I believe we have taken a truly modern position”. He stated that his mission is to make Miami “the most competitive city on the planet for cryptocurrencies”. The Winklevoss brothers supported his endeavors.
Francis Suarez defined: “This is an amazing time, and I also believe that this is the future of our globe. If we want to be a tech city in Miami, we need to use these opportunities to separate ourselves from each other and succeed among our competitors”.
“The videos of what we do in the city have become the most viewed videos I’ve ever uploaded. It also testifies to an incredible number of people interested in cryptocurrencies. I have heard reports, that 100-150 million people held them”, he added.
The developers of Bitcoin.org and Bitcoincore.org were asked to remove the Bitcoin whitepaper from their websites. After that Mayor Suarez stepped forward and posted the whitepaper on Miami’s website. And the largest Bitcoin conference of all time, Bitcoin 2021, will take place in Miami in June. The upcoming Bitcoin 2021 crypto conference considered a bullish signal and a possible market reversal after Bitcoin correction.
In addition, the mayor’s proposal to allow Miami employees to receive Bitcoin compensation. And to allow the city to add Bitcoins to its balance sheet in February was backed by city commissioners. Two months later, Miami-Dade passed legislation allowing residents to pay taxes, fees, and county services using Bitcoin.