Monday, 10 May 2021

Joe Biden's Trillion-Dollar Stimulus Bill Pushes Miami Mayor to Buy Bitcoin

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Miami Mayor Francis Suarez has revealed that he bought bitcoin and ether right after the $1.9 trillion stimulus bill passed the Senate, heading to President Joe Biden’s desk to be signed. He said bitcoin “is definitely going to go up … because I don’t think people are going to want to stay in dollar-denominated currencies.” Mayor Suarez is also working to make Miami a “crypto city.”
Miami’s Mayor Personally Bought Bitcoin

Miami Mayor Francis Suarez revealed at the 2021 Ethereal Summit last week that he purchased bitcoin right after the $1.9 trillion coronavirus relief stimulus package passed the Senate in March.

In an interview with Decrypt Editor-in-Chief Dan Roberts and FTX CEO Sam Bankman-Fried, Mayor Suarez was asked whether he had already purchased bitcoin since he indicated in February that he would soon be ready to buy some cryptocurrencies. The mayor confirmed:

I did buy, thankfully. I bought bitcoin and ethereum. I didn’t buy DOGE, but I did buy bitcoin and ethereum, and I bought it literally the day — I’ll never forget the moment — it was the day that the $1.9 trillion spending bill passed the Senate and it was going to the president’s desk.

“I said I’m buying. That’s it. If the federal government’s going to spend $1.9 trillion then I think I need to have some, and this is definitely going to go up,” he shared.

“And frankly if they spend another $2.2 trillion on infrastructure bill, it’s going to continue to go up. I mean there’s just no way that it can’t because I don’t think people are going to want to stay in dollar-denominated currencies,” Mayor Suarez opined.

The Miami mayor also talked about how impressively big the crypto community is. “The number of customers, the number of holders of bitcoin and other crypto, you’re talking about tens of millions of people and I’m not so sure that the rest of the world really understands quite how voluminous, how exciting, and how energetic the crypto community is,” he described.

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