- Both Russia and China have shown an interest in digitizing their current currency systems.
- Suarez discussed the 3 essential components to increase the cryptocurrency’s influence.
The Mayor of Miami, Francis Suarez, is a big fan of Bitcoin and wants to see it become a part of everyday life in the United States. On Wednesday, at the Bitcoin 2022 Conference, he presented his “Vision for Bitcoin in America 2024,” a future vision centered on Bitcoin.
Miami Beach Mayor Dan Gelber and Miami County Mayor Daniella Levine-Cava joined Suarez in delivering the opening comments at this year’s Bitcoin conference, which is being held in Miami. The three shared a common goal of making the area a blockchain center and educating the public about the technology.
Bitcoin-friendly Candidates
While wearing Bitcoin-themed shoes, Suarez discussed the three essential components needed to increase the cryptocurrency’s influence in the nation. At the top of his list was electing Bitcoin-friendly candidates.
Cryptocurrency enthusiasts waited anxiously for President Biden’s Executive Order on crypto to be issued last month. Despite his preference for responsible regulation over an outright prohibition, he also advocated for “urgent” CBDC development, which he said the U.S. was slipping behind China on.
Suarez said the United States should “never agree on anything with Russia and China when it comes to Bitcoin.” Rulings in the Russian Federation and China prohibit anonymous cryptographic transfers as part of their regulatory framework. However, both countries have shown an interest in digitizing their current currency systems.
The ultimate objective, according to Suarez, is to “unleash the macro-power” of the Bitcoin network. Allowing “rampant” money production to “democratize” and “create wealth” in disadvantaged areas that might otherwise be “decimated” by inflation. As a matter of fact, between March 2020 and October 2021, nearly 80% of all U.S. dollars in existence were produced. There are only 21 million coins available on the Bitcoin network, with the last two million being mined over the course of around 120 years.
