Miami Mayor Francis Suarez has revealed that he bought bitcoin and ether right after the $1.9 trillion stimulus bill passed the Senate, heading to President Joe Bidenâ€™s desk to be signed. He said bitcoin â€œis definitely going to go up â€¦ because I donâ€™t think people are going to want to stay in dollar-denominated currencies.â€ Mayor Suarez is also working to make Miami a â€œcrypto city.â€
Miamiâ€™s Mayor Personally Bought Bitcoin
In an interview with Decrypt Editor-in-Chief Dan Roberts and FTX CEO Sam Bankman-Fried, Mayor Suarez was asked whether he had already purchased bitcoin since he indicated in February that he would soon be ready to buy some cryptocurrencies. The mayor confirmed:
â€œI said Iâ€™m buying. Thatâ€™s it. If the federal governmentâ€™s going to spend $1.9 trillion then I think I need to have some, and this is definitely going to go up,â€ he shared.
â€œAnd frankly if they spend another $2.2 trillion on infrastructure bill, itâ€™s going to continue to go up. I mean thereâ€™s just no way that it canâ€™t because I donâ€™t think people are going to want to stay in dollar-denominated currencies,â€ Mayor Suarez opined.
The Miami mayor also talked about how impressively big the crypto community is. â€œThe number of customers, the number of holders of bitcoin and other crypto, youâ€™re talking about tens of millions of people and Iâ€™m not so sure that the rest of the world really understands quite how voluminous, how exciting, and how energetic the crypto community is,â€ he described.
Mayor Suarez is also currently working to make Miami a â€œcrypto city.â€ He detailed that besides hosting the bitcoin whitepaper on the cityâ€™s website, Bitcoin Conference 2021 will be held in Miami. In addition, he highlighted:
â€œI think we took a very progressive stance. We are very aggressive. I went to Wyoming, found their legislative package, tried to introduce it in the state legislation, [and] got very close to passing it on its first attempt, which is very unusual,â€ he detailed.
He added that it â€œpassed the entire House and passed almost the entire Senate,â€ but noted, â€œI got bogged down in one last committee for an unrelated reason.â€
The mayor described: â€œItâ€™s an exciting time and I do think that this is the future of our world. And if we want to be a tech city in Miami, we have to take advantage of these opportunities to differentiate ourselves and get ahead of our competition.â€
Do you agree with the Miami mayor on bitcoin and what do you think of his efforts to make Miami a crypto city? Let us know in the comments section below.
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