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Miami Mayor: Tesla’s purchase of bitcoin is just the beginning for bitcoin


In a recent interview, Miami Mayor Francis Suarez noted that Tesla’s purchase of bitcoin was just the beginning of the transition to digital currencies.

to the the report Suarez believes that Tesla’s recent move to buy bitcoin has significant consequences that could change the digital currency industry forever. He said about this:

This is really a metamorphosis and a change to become a mainstream, and I think there are two or three very big things that have not happened yet.

Referring to the effects of US government support packages on digital currencies, he said:

It is estimated that the supply of support packages may increase the supply of dollars by 40%; This is likely to lead to inflation, which in turn will lead to more people moving to digital currencies.

He did not stop there, adding that if Amazon accepted bitcoin as a method of payment, it was likely that the outlook for the digital currency industry would change dramatically. He said about this:

If this happens, the game is over. [چراکه] We are talking about a company to which probably 70% of the transactions we make during our lifetime are related.

Suarez intends to make Miami one of the pioneers in the field of digital currencies in the world, and the arrival of Amazon will be a positive event not only for this city, but also for Suarez himself; Because he intends to buy bitcoin himself. Suarez added:

Seeing that more and more people (people who are mainstream) are getting bigger day by day [بیت کوین] Buying is exciting.

These include Elon Musk and Tesla. Elon Musk’s talk and Tesla’s actions in recent weeks have pushed up the price of Bitcoin and Dodge Coin.

Bitcoin price chart from the beginning of 2021
Bitcoin price chart from the beginning of 2021

A recent Blockchain Research Lab study found that Elon Musk tweets boosted Dodge Coin and Bitcoin prices by 20 percent. The study raised the question of whether the entry of large private sector companies and celebrities could lead to a sharp rise in the digital currency market; An issue that Suarez does not take for granted. He said about this:

This market is going up and down every day. What anyone says, from the President of the United States to the President of the Federal Reserve, changes the value [در بازار] It becomes. These conversations are based on understanding.

At the end of his speech, he pointed out that the more people buy bitcoins, the less power a person has to make changes in the market; In other words, the higher the volume of bitcoin transactions, the smaller the impact of individuals on the market.

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