Miami Mayor Francis Suarez believes Bitcoin is the most peaceful revolution of our time. He added that some of its most important advantages are The ability to “get rid of” communist dictatorships “with the incredible power to liberate people” and the potential to democratize their choice.
Francis Xavier Suarez – Mayor of Miami since 2017 – is a contributor to the digital currency industry, especially bitcoin, which, in addition to being a holder, He recently announced that he will receive all his paychecks in BTC.
insectionIn the latest “What Bitcoin Did” with Peter McCormack, Suarez explains why core digital assets are so important. And how can it help the economy in the ongoing financial crisis?
He said that the most important advantage of bitcoin is its ability to create an exchange system that people do not have to live under. “Inflation and savage devaluation through frequent corrupt actors.”
As such, it should come as no surprise that several countries in Central America, South America and Africa are considering legalizing such assets as money.
“Bitcoin has the incredible power to eradicate communism in the world peacefully, liberate people, and democratize their choices,” he concluded.
Another important opportunity that cryptocurrency Bestowed on humanity is the ability to “There is a right to be rewarded,” with the mayor pointing out that The current financial system is in turmoil. This was mainly due to the rapidly accelerating inflation rate. In fact, the mayor pointed out that he doubts the current rate in the United States is between 6% and 7%, and thinks it could be in the range of 10-15%.
This means that if people put money in a bank account. They will earn zero interest and in a year they will be less valuable. However, investors should allocate at least some of their capital in bitcoin as a hedge against inflation.
Suarez continues that BTC does not represent a threat to politicians. All leaders should accept this asset and “Bring balance to their economy,” which, in his view, BTC can create fiscal discipline. This is because the government cannot print it out and destroy it like conventional currency.
Subsequently, Suarez It discussed a total bitcoin mining ban imposed by China earlier this year. He saw that the actions of China He explained that mining BTC helped create job opportunities. Many mining companies are located in rural areas where people are poor and unemployed.
Another benefit that comes from the Chinese ban is that bitcoin mining is now concentrated in the United States. Many companies are using renewable energy and are much more environmentally conscious than China.