Mayor of Miami Francis Suarez believes that bitcoin is the most peaceful revolution in modern times. He said that bitcoin’s greatest merits include its ability to “eradicate communism”, the “incredible capacity to liberate people,” as well as the potential to democratize the choices of the users.
Francis Xavier Suarez, Miami’s mayor, has been a strong advocate for the cryptocurrency industry, and specifically bitcoin. He is also a bitcoin holder. Recently, he announced that he will get his entire paycheck in BTC.
Suarez explained why Bitcoin is the main digital asset and how it can benefit the economy during the current financial crisis in a recent episode with Peter McCormack.
He stated that bitcoin’s greatest advantage is its ability create an exchange system where people aren’t subject to “wild inflation” and “wild devaluation” by corrupt actors.
Suarez said that it’s no surprise that many countries in Central America, South America and Africa are looking into the asset to be legal tender.
He concluded that “Bitcoin has an amazing power to peacefully eliminate communism on Earth, liberate people, and democratize their choice.”
Francis Suarez Source: MiamiNewTimes
The mayor also pointed out that cryptocurrency offers humanity another major opportunity: the “right to receive a return.” This is due to the rapid inflation. He said that he was skeptical that the US current rate is between 6% to 7%, and suggested that it could be as high as 10-15%.
This means that people who put money in bank accounts will not earn any interest for one year. Suarez stated that investors should invest at least part of their money in bitcoin to protect against inflation.
Other prominent names like Jordan Peterson and Anthony Scaramucci support the mayor’s thesis.
Bitcoin will create fiscal discipline
Suarez said that BTC is not a threat to politicians. No matter what political views you hold, leaders must embrace BTC and help “bring balance” to their economies. He believes that BTC can create fiscal discipline because governments cannot print more and cannot corrupt it as fiat currencies.
The USA has used many resources over the years to remain on top. It has always sought to provide financial benefits for the rest. He stated that the nation must now embrace bitcoin in order to keep its mission alive.
“China has done us a great favor”
Suarez then spoke about the complete ban on bitcoin mining that China had imposed earlier in the year. This is expected, as China’s most populous country has a communist government that wants to control everything.
Suarez said that China had done the States a “huge favor” by mining BTC. BTC mining is a way to create job opportunities, as many of the companies that operate in this field are located in rural areas that are often poor and unemployed.
A positive side effect of China’s ban on bitcoin mining is that it is now concentrated in the USA. Many American firms use renewable energy and are more environmentally-conscious than China.
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