Amid March’s US$ 2 Trillion Stimulus, Miami’s Mayor Invests More Funds into Bitcoin & Ethereum

Francis Suarez, who is currently the Mayor of Miami, is testing his limits with regard to crypto adoption. He has recently invested an additional huge sum as an investment into Bitcoin amid the latest US stimulus package consisting of approximately US$ 2 Trillion. Suarez said that even this time as well Bitcoin’s price would definitely go up as it did in the past.

Last week, a summit called the “2021 Ethereal Summit” was held in the US in which Miami’s Mayor, Francis Suarez, was the chief guest. During his address, Suarez revealed that he had recently further invested in Bitcoin. His Bitcoin investment noticeably came right after the US Government had issued another stimulus package, this time comprising approximately US$ 2 Trillion. The package was issued in the month of March this year and it was issued as a relief package towards the Covid-19 pandemic.

Earlier in the month of February 2021, Suarez had made a statement in which he told that he might be investing in Bitcoin. In this context, Sam-Bankman Fried of FTX asked Suarez a question whether he had made any investment into Bitcoin lately. In response, Mayor Suarez told Fried that of course, he had bought two of the leading digital assets i.e. Bitcoin and Ethereum. He further revealed that his acquisition of Bitcoin and Ethereum was a day that he would not forget easily. He stated that it was the same day on which the US$ 2 Trillion stimulus package was released.

Suarez further apprised that he had to buy Bitcoins and Ethereum because he firmly believed that cryptocurrencies’ value would definitely go up. He continued stating that even if the US Government decides to release more packages even then the crypto market will boost further. He opined that as per his understanding no one would currently want to deal with dollar-denominated fiats. Therefore, the interest of the investors would apparently be towards crypto assets, suggested Suarez.

Suarez also talked about in a great deal how the crypto community has evolved over the years. He suggested that there are now millions of people across the globe who are crypto investors and holders. However, it has been an exciting journey to see Bitcoin becoming the number one investment vehicle in the year 2020, said Suarez.

Digital assets have a special place in the heart of Miami’s Mayor and he had never shied away from revealing his affection for crypto. In fact, he is amongst those public figures who believe that the city of Miami can be turned into a crypto hub, which he has named as “crypto city”.

He was the person behind posting Bitcoin’s whitepaper on the official webpage related to Miami city. Suarez has on several occasions also said that the next Bitcoin Conference will be hosted by the city of Miami. In addition, he has also proposed that city officials should be paid in Bitcoin and officials have endorsed his proposal as well.