“Bitcoin is not only an asset for investment, but also a foundation for innovation”

Miami Mayor Francis Suarez said that many investors consider bitcoin only a source of profit, but it can be called the basis for the development of the latest technologies and the digital economy.

At the conference The Future of Crypto, held within the framework of the World Economic Forum (WEF) in Davos, Francis Suarez (Francis Suarez) expressed an opinion about the cryptocurrency industry. He stated that bitcoin can be not only an asset for investment and profit, but also a foundation for the development of innovation.

The mayor also touched upon the topic of high volatility of the cryptocurrency market, considering it quite a natural phenomenon for the growing ecosystem. The bitcoin rate will be stable when BTC ceases to be considered an asset class and is relegated to the category of currencies, Suarez suggested. When asked why he supports bitcoin, the politician replied:

“Who can we trust today? Bankers, politicians or regulators? It is Bitcoin that stands out among them. Even though Bitcoin was invented by man, it functions with a set of codes that cannot be influenced.”

Sheila Warren, head of blockchain development and distributed ledger technology at the WEF, also agreed with Suarez’s position. She said that bitcoin has already proven its strength by withstanding several price cycles, and its current price, despite the fall, speaks volumes. A few years ago, Warren talked about the decline in people’s trust in governments and financial institutions, but blockchain can solve this problem.

Suarez has long been considered a supporter of bitcoin. Recently, he proposed to elect a cryptocurrency enthusiast as president of the United States, who will promote the use of the flagship cryptocurrency as a means of payment and promote its implementation in any field of activity.