Despite the collapse of FTX, the mayor of Miami is still a Bitcoin believer

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Von: Krypto News Österreich

The Bitcoin Bullische Mayor of Miami, Francis Suarez, remains loyal to the asset after the collapse of one of the world's greatest crypto bonds has shaken confidence in the industry.

The mayor suggested that Bitcoin can still offer numerous advantages that the Fiat currency system does not offer.

could Bitcoin replace the dollar?

during a Interview with CNBC on Friday Suarez was asked whether he believed that the supervisory authorities were responsible for developing and finally exploding the FTX disaster. Some industry leaders, such as Brian Armstrong, CEO of Coinbase, have blamed a lack of regulatory clarity in the US However,

Suarez decided not to show his finger.

"If people lose money and do not run things the way they expect, everyone wants to blame someone," said the mayor. "We live in a capitalist country where people risk capital. Sometimes it works for them, sometimes not."

Part of Suarez 'enthusiasm for Bitcoin comes from the belief in his potential to spread the principles of the free market around the world. In December 2021 he claimed bitcoin could "exterminate communism on the planet, free people and democratize their decisions" thanks to his immunity against devaluation of money.

Some even cited this quality when they could theorized how Bitcoin could replace dollar -something that the interviewer of Suarez described as "ridiculous presentation". Although Suarez hesitated to underpin this claim, he admitted that Bitcoin has advantages over the Fiat currency system. This includes the ability of the blockchain to create and help "efficient transactions" cross-border transfers .

Suarez also pointed out the growing dynamics in favor of digitization of the dollar by stable coins-cryptocurrencies that are 1: 1 with hard currency.

"Much of it is media-driven," said Suarez in relation to the latest panic about Krypto and FTX. "Maybe Bitcoin will be at 30,000 or 40,000 in 6 months. Do you want to turn me on again and say 'Mr. Mayor, you are super slow?"

Miamis Bitcoin initiatives

Suarez in 2021 in competition with the mayor of New York City, Eric Adams to prove which politician was most interested in Bitcoin. After Suarez promised received his next salary check in btc, adams announced 400 "> that he would receive his following three salary checks in the two top cryptocurrencies.

Suarez later led the newly elected mayor and promised to accept his entire content at bitcoin.

At the Bitcoin conference in Miami in April last year Suarez said integrate bitcoin in "every aspect of society".

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