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Mayor Francis Suarez

Miami Mayor: China’s Crypto Crackdown ‘Creates Incredible Opportunity for America’ in Bitcoin Mining

Miami Mayor: China’s Crypto Crackdown ‘Creates Incredible Opportunity for America’ in Bitcoin MiningThe mayor of Miami, Florida, sees China’s cryptocurrency crackdown as “the turning point” that “creates an incredible opportunity for America.” He said: “Their loss is our gain and America can and will lead the future by providing a clean power home for bitcoin miners and all who are building on/with/for bitcoin.” Miami Mayor Sees US […]

Analyst Issues Crypto Alert, Says One Catalyst Could Trigger an ‘Aggressive Move Down’ for Altcoins

US Mayor Says Bitcoin Will Keep Rising as the Fed Continues Printing More Dollars

US Mayor Says Bitcoin Will Keep Rising as the Fed Continues Printing More DollarsThe mayor of the U.S. city of Jackson, Tennessee, explains that the price of bitcoin will keep rising as the Fed continues to print money. He believes that bitcoin is “definitely the future monetary system.” Mayor Explains Bitcoin’s Price Will Keep Rising as the Fed Continues to Print Money Mayor Scott Conger of the U.S. […]

Analyst Issues Crypto Alert, Says One Catalyst Could Trigger an ‘Aggressive Move Down’ for Altcoins

Mayoral Front-Runner Vows to Make New York City the Bitcoin Center in One Year

Mayoral Front-Runner Vows to Make New York City the Bitcoin Center in One YearThe New York City mayoral candidate in the lead, Eric Adams, has promised that in one year New York will be “the center of all technology,” including “the center of bitcoins.” He will compete with Miami where Mayor Francis Suarez had a head start turning Miami into a bitcoin hub. Mayoral Candidate Promises to Turn […]

Analyst Issues Crypto Alert, Says One Catalyst Could Trigger an ‘Aggressive Move Down’ for Altcoins

Miami mayor offers city’s clean nuclear power to Chinese Bitcoin miners

Mayor Francis Suarez wants to make Miami a Bitcoin mining hub by offering the city’s cheap, clean nuclear energy supply.

With Bitcoin (BTC) mining concentration expanding in North America, Miami mayor Francis Suarez is looking to position his city as a hub for crypto mining activity.

Speaking to CNBC on Thursday, Mayor Suarez said he is inviting foreign mining companies to consider establishing data centers in the city.

According to Suarez, Miami’s ample nuclear electricity supply should attract Bitcoin miners looking to adopt clean energy sources for their operations, especially amid the current spotlight on the supposed carbon footprint of crypto mining.

Mayor Suarez has previously weighed in on the issue claiming back in March that 90% of Bitcoin mining was from “dirty energy.”

At the time, the Miami mayor argued that a shift in mining concentration to the United States may help to ease environmental concerns.

As part of efforts to attract overseas Bitcoin miners, Mayor Suarez stated that city officials were looking to reduce the cost of energy in conjunction with the power companies. Other incentives like favorable taxes and minimal regulations are also on the table, according to the Miami mayor.

By using cheap, clean energy and crypto-friendly regulations, Miami may compete with other emerging mining destinations in Texas and Wyoming.

The plan may also further expand Miami’s crypto adoption drive with the city looking to become the Bitcoin and crypto capital of the world.

Mayor Suarez is himself a crypto proponent and has said previously that he owns both Bitcoin and Ether (ETH). As previously reported by Cointelegraph, the Miami mayor bought BTC after Congress passed the $1.9 trillion stimulus bill back in March.

Related: City in Sichuan reportedly orders crypto miners to shut down for investigation

Suarez’s open invitation to overseas miners is also coming at a time of increasing clampdowns on crypto mining by Chinese authorities. On Friday, reports emerged that crypto miners in Ya’an, a city in the Sichuan Province, have been ordered to shut down their operations.

With anti-crypto mining sentiments seemingly prevalent among authorities in Beijing, friendlier climes like Miami may prove attractive to miners leaving China. Indeed, some miners are already considering plans to leave the country with a spokesperson for BTC.top telling Cointelegraph, “Yes, we want to go overseas.”

Analyst Issues Crypto Alert, Says One Catalyst Could Trigger an ‘Aggressive Move Down’ for Altcoins

Miami mayor bought Bitcoin after Congress passed $1.9T stimulus bill

Miami Mayor Francis Suarez says he owns both Bitcoin and Ether but has been too busy to buy the recent dip.

Francis Suarez, the crypto-friendly mayor of the city of Miami, may have further cemented his status as a cryptocurrency proponent.

Appearing on the CNBC Squawk Box program, Suarez revealed that he owns both Bitcoin (BTC) and Ether (ETH).

According to Suarez, he bought BTC and ETH immediately after the United States Senate passed the $1.9-trillion stimulus bill for further COVID-19 relief back in early March.

For Suarez, the passage of the bill made inflation an inevitability, stating, “I knew at that point that inflation was inevitable and that there had to be some sort of a hedge.”

Massive government spending to spur economic recovery continues to stoke inflation and monetary debasement fears further lending credence to Bitcoin’s viability as a hedge asset.

At the time of stimulus bill passage, Bitcoin rocketed past $54,000 on the road to reaching its current all-time high above $64,000. BTC along with the crypto market did experience significant losses in May, with token prices sliding almost 50% across the board.

Suarez said he was unable to take advantage of the current dip, adding:

“I haven’t bought the dip yet but I’m planning to. I’ve just been too busy; I’ve been working too much.”

Miami is also fast becoming a major crypto hub in the United States, with venture capital firm Borderless Capital announcing a $25-million fund for startups based in the city.

From nightclubs to tax payments, crypto adoption seems to be growing at a significant pace across the city, with the mayor even calling for progressive cryptocurrency laws back in February.

Miami’s footprint in the cryptocurrency landscape appears set for another boost as the city plays host to the Bitcoin 2021 conference. Congresspeople, CEOs, celebrities and cryptographers are among the over 50,000 crypto faithful expected to grace the event.

Analyst Issues Crypto Alert, Says One Catalyst Could Trigger an ‘Aggressive Move Down’ for Altcoins

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

Joe Biden’s Trillion-Dollar Stimulus Bill Pushes Miami Mayor to Buy BitcoinMiami 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.” […]

Analyst Issues Crypto Alert, Says One Catalyst Could Trigger an ‘Aggressive Move Down’ for Altcoins

Crypto Exchange FTX on the Verge of Winning Naming Rights for the Miami Heat’s Arena

Crypto Exchange FTX on the Verge of Winning Naming Rights for the Miami Heat’s ArenaSamuel Bankman-Fried’s FTX crypto exchange is reportedly one vote away from winning a naming-rights deal for the arena of the NBA’s Miami Heat. The deal, which is believed to be worth $135 million, is set to be approved on March 26 by the Miami-Dade County Commission. Miami-Dade to Get $5 Million a Year According to […]

Analyst Issues Crypto Alert, Says One Catalyst Could Trigger an ‘Aggressive Move Down’ for Altcoins