Francis Suarez – the mayor of Miami – believes bitcoin is the most peaceful revolution of our times. He added that some of its most considerable merits are the ability to “eradicate” communism, the “incredible power to liberate people,” and the potential to democratize their choices.
Bitcoin’s Superpowers
Francis Xavier Suarez – Miami’s mayor since 2017 – is undoubtfully a keen advocate of the cryptocurrency industry and, more specifically, bitcoin. Apart from being a holder, he recently announced he will receive his paycheck entirely in BTC.
During a recent episode of “What Bitcoin Did” whit Peter McCormack, Suarez explained why the primary digital asset is so important and how it can help the economy in the ongoing financial crisis.
He said bitcoin’s most significant advantage is its ability to create a system of exchange where people are not subjected to the “wild inflation and wild devaluation through oftentimes corrupt actors.”
As such, it is no wonder that several countries in Central America, South America, and Africa are considering adopting the asset as legal tender, Suarez noted.
“Bitcoin has an incredible power to peacefully eradicate communism on the planet, liberate people and democratize their choices,” he concluded.
Francis Suarez, Source: MiamiNewTimes
Another major opportunity that the cryptocurrency grants to humanity is the ability to have a “right to get a return.” Today’s financial system is in total chaos, caused mainly because of the speeding inflation, the mayor pointed out. In fact, he doubted that the current rate in the USA is somewhere between 6% and 7% and opined that it could be in the range of 10-15%.
This means that if people put their money in a bank account, they will get zero interest, and in one year, those funds will be worth less. Having that said, investors should allocate at least some of their funds in bitcoin since it is a hedge against inflation, Suarez explained.
Many other prominent names, including Paul Tudor Jones, Anthony Scaramucci, and Jordan Peterson, support the mayor’s thesis.
Bitcoin Will Create Fiscal Discipline
Suarez continued by saying that BTC does not represent a threat to politicians. Regardless of the political views, all leaders should embrace the asset and thus “bring balance to their economy.” In his view, BTC could create fiscal discipline as governments cannot print more of it and cannot corrupt it like fiat currencies.
Throughout the years, the USA has employed various resources to stay on top. The nation has also always strived to create financial benefits for the rest of the world. Nowadays, it has to open its arms towards bitcoin to continue its agenda, he opined.
‘China Has Done Us a Huge Favor’
Subsequently, Suarez touched upon the total ban on bitcoin mining which China imposed earlier this year. He sees this as expected since the most-populated country has a communist government, which wants to be in charge of everything.
However, by doing so, China has done a “huge favor” for the States, Suarez stated. He explained that BTC mining creates job opportunities as many companies in that field are located in rural areas where people are poor and unemployed.
Another good thing coming from China’s ban is that now bitcoin mining is concentrated mainly in the USA, where many firms use renewable energy and are much more green-focused than China.
Polygon’s founder, Sandeep Nailwal, alongside other Web3 founders, has raised a $50 million fund that will be focused on Web3 startups. The new venture will be called Symbolic Capital. The fund plans to differentiate itself by using a unique data platform to drive its investments and the support of portfolio companies. According to a press…
Shiba Inu and Pepe are two meme coins that skyrocketed to new highs a few months after their launch. However, many missed these tokens. There is now an exciting new project that’s developing a useful platform called Pullix. Let’s take a look at what it is and what it brings to the table. Shiba Inu
Bitcoin has been on a slow decline for the past couple of weeks. The price has been rejected from the 100-day and 50-day moving averages a couple of times and dropped to the $37K level. Technical Analysis By: Edris The Daily Chart Bitcoin is currently rebounding from the mentioned level and could rally towards the…
[PRESS RELEASE – Please Read Disclaimer] CONF3RENCE 2024 and BLOCKCHANCE are thrilled to announce their union, marking the inception of a flagship Web3 event in the Ruhr area, Europe’s economic powerhouse. BLOCKCHANCE has already demonstrated the possibilities of the German Web3 ecosystem. Together, aiming to build a bridge between traditional economy and Web3, this union
[PRESS RELEASE – Bridgetown, Barbados, 6th April 2022] Bridge Network, a cross-chain communication protocol, has closed its $3.8M funding round with backing from FTX Ventures, MEXC Global, Master Ventures, Blockfinex, Croc Capital, and others. The protocol has been in development for over a year and has plans to revolutionize the way users transact in the…
A recent transaction on Ethereum’s network saw someone pay 10,668 ETH in fees while the actual value of the transaction was 0.55 ETH. This isn’t the first instance of something like this happen as insane fees have been paid on several occasions in the past. $2.5 Million Worth of ETH Fees for a Single Transaction…
Ethereum saw a small 2.6% price fall today as the cryptocurrency drops into the $175 region. Before this, ETH managed to increase by a total of 16.8% over the past week as it reached an April high of $190. Against Bitcoin, Ethereum also created a fresh high for April around the 0.026 BTC level. Key…
Sygnum Singapore – a subsidiary of Switzerland’s Sygnum Bank – received in-principle approval from the country’s top financial regulator to conduct three additional activities. These include providing corporate finance advisory services, dealing in capital market products, and offering custodial services. Sygnum to Enable More Opportunities Upon obtaining full approval from the Monetary Authority of Singapore,…
The Canadian government will begin consultations on cryptocurrencies, stablecoins, and CBDCs. The ruling body maintained that such assets should function under strict supervision since they could facilitate illicit operations and pose “a challenge to democratic institutions.” Crypto is Among the Budget’s Priorities As disclosed in its mini-budget 2022, Canada’s federal government will aim to impose…