Francis Suarez – the Bitcoin-loving Mayor of Miami – wishes to see Bitcoin integrated into American society at all levels. At the Bitcoin 2022 Conference on Wednesday, he articulated a Bitcoin-centric vision for the future that he called “Vision for Bitcoin in America 2024”.
Accelerating Bitcoin Adoption
Suarez joined County Mayor Daniella Levine-Cava and Miami Beach Mayor Dan Gelber in providing opening remarks at this year’s Bitcoin conference – which takes place in his city. All three showed enthusiasm about turning the region into a blockchain hub while educating residents about the technology.
Appearing in Bitcoin-themed shoes, Suarez explained the three necessary components for magnifying the cryptocurrency’s role across the country. Firstly, he stressed the importance of electing pro-Bitcoin candidates.
“Yes, the next President of the United States has to be a pro-Bitcoin candidate,” he declared. “What’s at stake is Federal legislation that could either propel us into the next generation or set us back.”
Last month, the crypto community waited with anxious anticipation over President Biden’s Executive Order on crypto. Though he has chosen responsible regulation of the industry over an outright ban, he also pushed for “urgent” CBDC development, on which he suggested the U.S. was falling behind China.
Suarez stated that the United States should “never agree on anything with Russia and China” when it comes to Bitcoin. Russia has chosen to disallow anonymous crypto transactions as part of its regulations, while China has chosen to ban the assets entirely. However, both nations are showing interest in digitizing their existing currencies.
The Mayor’s second goal is to “integrate Bitcoin into every aspect of our society” this year.
“We need to make sure we can go into a convenience store and buy a snickers with a Satoshi,” he said.
Miami Mayor Francis Suarez.
Bitcoin’s Macro Power
Suarez’s final stated goal is to “unleash the macro-power” of Bitcoin. This means allowing it to “democratize” and “create wealth” for poor communities getting “decimated” by inflation, due to “rampant” money printing.
Indeed, about 80% of US dollars in existence were printed between March 2020 and October 2021 alone. Meanwhile, Bitcoin’s supply is programmatically fixed at 21 million coins, with the last two million to be mined over approximately 120 years.
As such, Suarez called for America to lean into Bitcoin’s “generational wealth creation opportunity,” and to allow people to transmit money outside of the banking system.