Miami mayor says Bitcoin is anti-communist and promotes democracy
The pro-Bitcoin mayor of Miami, Francis Suarez, has once again shown his unwavering support for the primary cryptocurrency. In his latest remarks, Suarez alluded that Bitcoin can get rid of communism by empowering society to be part of the financial network.
Suarez further noted that Bitcoin was one of the most peaceful developments in the modern-day world, and it possessed the ability to “liberate people” and promote democracy.
Suarez showers Bitcoin with praises
Miami mayor is not just a Bitcoin supporter but also a holder. In his recent campaign trail for a second term as the Miami mayor, Suarez said he would receive his next paycheck entirely in Bitcoin.
In an appearance on “What Bitcoin Did” show with Peter McCormack, Suarez gave several pointers that gave Bitcoin importance. He mentioned that Bitcoin could protect people from the “wild inflation and wild devaluation through oftentimes corrupt actors.”
The advantages of Bitcoin have made it a preferable choice as a means of payment in countries grappling with inflation.
The mayor pointed out the weaknesses of the current financial system that denied people the “right to get a return.” He spoke of this in line with the rising level of inflation in the US, stating that there was a chance that inflation could be higher than indicated, as the levels could range between 10% and 15%.
Because of inflation, people who save their money in a bank account receive zero interest, and their wealth will depreciate annually. This, people needed to save part of their funds in Bitcoin to avoid inflation.
He also opined that Bitcoin did not pose a threat to the US, and despite the different political views, all leaders need to support the digital asset to “bring balance to their economy.” Bitcoin could create financial discipline as its supply cannot be increased, and it cannot be corrupted.
He concluded his line of thought by saying, “Bitcoin has an incredible power to peacefully eradicate communism on the planet, liberate people and democratize their choices.”
China’s exit is a welcome development
Suarez also touched on the issue of China banning Bitcoin mining and trading. China banned cryptocurrencies earlier this year, with the news causing mixed reactions in the crypto space.
Suarez noted that China banned Bitcoin because of its communist government. The mayor said that the ban was expected because China’s government wanted to control everything.
However, by banning Bitcoin, China has done the US a “huge favour”, with Suarez explaining that the migration of Bitcoin mining in the US increased job opportunities since most mining firms were set up in rural areas with a high percentage of unemployed people.
The US is currently the largest Bitcoin mining hub, as depicted by the Bitcoin network mining hash rate. The US has attracted large mining firms because of its abundance of renewable energy.
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