Suarez thinks the price of BTC will keep soaring, considering the limit in supply and as it becomes more mainstream.
Miami Mayor Francis Suarez advocated for the election of pro-Bitcoin US president and lawmakers at the Bitcoin 2022 Conference. The Bitcoin conference opened with remarks by Suarez, County Mayor Daniella Levine-Cava, and Miami Beach Mayor Dan Gelber. In his speech, Francis Suarez stated his intentions for wanting to outline a Bitcoin-related vision for the country. One, which he referred to as the “Vision for Bitcoin America 2024.” The officials expressed their inclination to crypto and plan to turn the district into a crypto center while enlightening residents on blockchain technology.
The Call for a pro-Bitcoin US President
Emphasizing the significance of a pro-bitcoin US president and lawmakers, Francis Suarez said:
“Yes, the next president of the United States has to be a pro-bitcoin candidate. What’s at stake is Federal legislation that could either propel us into the next generation or set us back.”
Foremost in March, the crypto community anticipated an Executive Order from President Joe Biden. Responsively, the US president chose industry regulation instead of banning it altogether. He requested the immediate creation of CBDC, positing that China was ahead on that. Suarez thinks that China and Russia are not to emulate, especially regarding matters concerning Bitcoin and altcoins. Russia has halted anonymous crypto exchanges as part of its regulations, while China has chosen to ban the assets outrightly. Even so, the two countries desire digital currency conversion.
Francis Suarez’s interest in a pro-bitcoin US president is not unfamiliar as he is known to be a Bitcoin fanatic. Early last year, the Mayor caused a stir by expressing his plans to invest some of Miami’s treasury reserves into Bitcoin. Since then, the government of Miami, with Governor Ron DeSantis’ backing, has set out to position the city as a center for Bitcoin and crypto firms. Earlier, the state governor said he was working on enabling firms to pay taxes in cryptocurrencies.
Suarez thinks the price of BTC will keep soaring, considering the limit in supply and as it becomes more mainstream. The Mayor acknowledged that the cryptocurrency is volatile. The supply of Bitcoin is 21 million coins, with the remaining 2 million will mine for nearly 120 years.
Bitcoin’s Integration into the Society
Secondarily, the Mayor further underlined the role of cryptocurrency in the country. Alongside the push for a pro-Bitcoin US president, Suarez tabled the possibility of integrating bitcoin into every part of society. This translates to using cryptocurrencies for daily transactions, such that retail food stores can accept crypto in exchange for chocolate and candy bars.
Suarez also stated his aim to “unleash the macro power” of Bitcoin. Illustrating Bitcoin’s potential to create and distribute wealth evenly to underprivileged communities, he said:
“Bitcoin has the power to democratize and to create wealth for the unbanked and the poor in our community who are getting decimated by inflation and government spending that has run rampant.”
America’s inflation started due to excessive printing of cash. 80% of the dollars in circulation between March 2020 and October 2021 were printed during the same period. Suarez thereby recommends that America take advantage of the wealth creation opportunities of Bitcoin and look beyond bank transactions. To achieve this feat, he hopes for a unified effort.
Ibukun is a crypto/finance writer interested in passing relevant information, using non-complex words to reach all kinds of audience. Apart from writing, she likes to see movies, cook, and explore restaurants in the city of Lagos, where she resides.
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